Enova International is a technology and analytics company that provides online financial services such as installment loans, line of credit accounts, receivables purchase agreements, and loan arrangement and servicing programs. It operates in the United States, Brazil, Australia, and Canada, offering its financing products under various brand names including CashNetUSA, NetCredit, OnDeck, Headway Capital, The Business Backer, Simplic, and Pangea. The company, headquartered in Chicago, Illinois, was incorporated in 2011.
Frequently asked questions
Is Enova International (ENVA) stock halal to invest in?
No. As of , ENVA is not Shariah-compliant under AAOIFI standards, so it is not considered halal to invest in. Enova International fails the business screen, the financial screen or both, based on its most recent financial reports. The Zoya app shows which one and lists Shariah-compliant alternatives.
Does Enova International have any interest income?
No, Enova International has not reported any interest income. According to the company's latest annual
report for the fiscal year ending Dec 31, 2025, Enova International reported total revenue
of 3151653000, with no separate interest income disclosed. However,
it's worth noting that some companies may report interest income as part of their revenue. For a detailed
breakdown of all interest income and revenue segments, please refer to the full Shariah compliance
report available in the Zoya app.
What guidelines are used to determine if Enova International stock is Shariah-compliant?
We use the guidelines set by the Accounting and Auditing Organization for Islamic Financial Institutions
(AAOIFI) to assess Shariah compliance. AAOIFI is a leading international organization that establishes
standards for Islamic finance. Their guidelines help determine if a company's business activities and
financial structure align with Islamic principles. These standards are widely respected in the Islamic
finance industry and provide a consistent framework for evaluating the Shariah compliance of stocks and
other financial instruments. AAOIFI's Shariah board includes renowned scholars such as Sheikh Muhammad
Taqi Usmani, Sheikh Mohamed Ali Elgari, Sheikh Abdullah AlManea, Sheikh Nizam Yaquby, and Dr. Aznan Hassan.
How often is Enova International stock reviewed for Shariah compliance?
The Shariah compliance status of Enova International stock is reviewed on a regular basis, with a minimum
frequency of once per quarter. However, if there are any significant changes or major developments
in the company's operations that may impact its compliance, an immediate review will be conducted to
ensure ongoing adherence to Shariah principles.
How can I stay updated on Enova International's compliance status?
To stay informed, we recommend regularly checking Zoya for updates. You can also enable alerts within
the Zoya app to receive notifications whenever there is a change in the Shariah compliance of ENVA,
or any other stocks you are monitoring. This is particularly useful as Shariah compliance can fluctuate
due to changes in a company's financial ratios or business activities.
Are dividends from Enova International stock considered halal?
No, dividends from ENVA are not considered halal because the stock is currently not
Shariah-compliant. When a stock is non-compliant, any dividends received from it are considered
impermissible income and should be donated to charity as a form of purification. To learn more about
the purification process and how to handle impermissible income, read
our comprehensive guide.
Do I need to pay Zakat on my Enova International shares?
If you hold Enova International stock as an investment, through an Employee Stock Ownership
Plan (ESOP), stock options, restricted stock units (RSUs), or any other form of stock ownership, and
meet the Nisab threshold, you may be required to pay Zakat on it. The calculation of Zakat on investments
can be complex and depends on various factors. To help make this easy, we've created a free
Zakat calculator for stocks. For a more
seamless experience, use the Zoya mobile app, where you can link your brokerage account to
automatically import holdings.
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