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Is Snowflake Inc. (SNOW) stock halal to invest in?
As of Sep 30, 2024, Snowflake Inc. (SNOW) stock is not Shariah-compliant based on its
business activities and financial ratios.
As of Sep 30, 2024, Snowflake Inc. (SNOW) stock is flagged as not Shariah-compliant in terms of
Shariah compliance. This means that while the company's operations do not definitively violate Islamic
guidelines, there are certain aspects of Snowflake Inc.'s business that require careful consideration.
Does Snowflake Inc. have any interest income?
Yes, Snowflake Inc. does have interest income. According to the company's latest annual report for
the fiscal year ending Jan 31, 2024, Snowflake Inc. reported revenue of
2806489000 and interest income of
200663000. The interest income represents
6.67% of the combined total. It's worth noting that some companies
may report additional 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.
No, Snowflake Inc. has not reported any interest income. According to the company's latest annual
report for the fiscal year ending Jan 31, 2024, Snowflake Inc. reported total revenue
of 2806489000, 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 Snowflake Inc. stock is Shariah-compliant?
İslami Finansal Kurumlar için Muhasebe ve Denetim Organizasyonu tarafından belirlenen yönergeleri kullanıyoruz
(AAOIFI) tarafından şeriata uygunluğu değerlendirmek üzere kurulmuştur. AAOIFI, Şeriat'a uygunluk değerlendirmesi yapan önde gelen uluslararası bir kuruluştur.
İslami finans için standartlar. Kılavuz ilkeleri, bir şirketin ticari faaliyetlerinin ve
finansal yapı İslami ilkelerle uyumludur. Bu standartlar, İslami finans sektöründe geniş çapta saygı görmektedir.
ve hisse senetlerinin Şeriata uygunluğunu değerlendirmek için tutarlı bir çerçeve sağlar.
diğer finansal araçlar. AAOIFI'nin Şeriat kurulunda Şeyh Muhammed gibi tanınmış akademisyenler yer almaktadır.
Taqi Usmani, Şeyh AbdulSattar Abu Ghuddah ve Şeyh Abdullah AlManea.
How often is Snowflake Inc. stock reviewed for Shariah compliance?
The Shariah compliance status of Snowflake Inc. 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 Snowflake Inc.'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 SNOW,
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 Snowflake Inc. stock considered halal?
Yes, dividends from SNOW are considered halal. However, you may need to purify a portion of the
dividend if the company has any impermissible revenue. Shariah standards typically allow up to 5% of
revenue from impermissible sources for a stock to remain compliant. To find the exact percentage of
impermissible revenue for Snowflake Inc. (SNOW), check the Zoya app. For more details on the
purification process, read
our comprehensive guide.
No, dividends from SNOW 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 Snowflake Inc. shares?
If you hold Snowflake Inc. 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 stocks
can be complex and depends on various factors. To help make this easy, we've created a free
Zakat calculation tool. For an even
easier experience, use the Zoya mobile app, where you can link your brokerage account to automatically
import holdings.
