AMZN

Amazon.com, Inc.

DOUBTFUL — FINANCIAL SCREENS PASSstock

Is AMZN Halal?

Current total-assets financial screens pass, but Amazon does not disclose enough mixed-business revenue detail to complete the activity screen.

What You Should Know

AWS and most general retail, marketplace, logistics, and fulfillment activities are generally permissible. The March 2026 quantitative review confirms that conservatively defined debt, conventional liquidity, receivables, and disclosed interest income remain within the examined total-assets limits. Amazon combines Prime memberships with video and other subscriptions and does not isolate screened marketplace products, advertising, credit-card agreements, healthcare, or media revenue, so a defensible prohibited-revenue percentage cannot be published from the filing.

⚠️ Concerns

  • Prime Video and other media content require qualitative review
  • Screened marketplace products and advertising categories are not separately disclosed
  • Other revenue includes co-branded credit-card agreements, healthcare, and video licensing without sufficient detail
  • Disclosed interest income was 0.63% of quarterly revenue
  • AWS government and military work and Amazon's AI investments merit separate ethical review

Current quantitative Sharia screen

Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-12.

USD · millions
Interest-bearing debt / assets
15.68%Within limit
Below 33.333% under FTSE Yasaar

143,771 / 916,630

Cash + interest-bearing securities / assets
15.30%Within limit
Below 33.333% under FTSE Yasaar

140,288 / 916,630

Receivables + cash / assets
19.35%Within limit
Below 50% under FTSE Yasaar

177,348 / 916,630

Non-compliant income / revenue
0.63%Within limit
No more than 5% under FTSE Yasaar

1,135 / 181,519

FTSE Yasaar
v4.6, February 2026
Financial
Pass
Overall
Incomplete

Debt, conventional liquidity, receivables-plus-cash, and disclosed interest income pass the published financial limits. The prohibited business-revenue percentage remains undisclosed.

MSCI Islamic (total-assets series)
October 2024 methodology
Financial
Pass
Overall
Incomplete

Debt, cash plus identifiable interest-bearing securities, and receivables plus cash are below the applicable total-assets thresholds. The business-activity result remains incomplete.

Malaysia SAC financial ratios
single 5% activity benchmark adopted November 2025
Financial
Pass
Overall
Incomplete

Identifiable conventional cash and interest-bearing instruments and conservatively defined interest-bearing debt are below 33% of total assets. This is a calculation against the SAC ratios, not an official SAC classification of a U.S.-listed security.

Market-cap denominator methods
MSCI M-Series, S&P and Dow Jones methods differ
Financial
Not calculated
Overall
Not calculated

A properly licensed and reproducible 24- or 36-month issuer market-cap history is not yet stored, so these methods are not estimated from a current spot price.

Business-activity disclosure

Amazon's separately reported AWS cloud infrastructure and most general retail, marketplace, fulfillment, and logistics activities are generally permissible. Its disclosed revenue categories also combine activities that require further screening.

Limitation: Amazon does not separately disclose revenue from prohibited marketplace products, screened advertising categories, Prime Video content, credit-card agreements, healthcare sub-activities, or other potentially non-compliant sources. Subscription services combine Prime memberships with video, music, audiobooks, e-books, and other services, so neither the full category nor an invented fraction of it is a defensible prohibited-revenue numerator.

Purification

Disclosed interest income was 0.63% of quarterly revenue. Amazon does not currently pay a regular cash dividend, and its potentially non-compliant operating revenue is not separately disclosed, so this record does not prescribe a fixed purification payment for dividends or capital gains.

Inputs, assumptions and primary sources
  • Interest-bearing debt conservatively includes 119,074 of non-current debt, 2,832 of current debt, 13,325 of finance-lease liabilities, and 8,540 of financing obligations. Operating-lease liabilities are excluded.
  • Cash and cash equivalents are the reported 101,816. Interest-bearing securities use the reported 41,273 of marketable securities less 2,801 of identified marketable equity securities.
  • Accounts receivable uses the reported 75,532 'Accounts receivable, net and other' balance and is therefore conservative because Amazon does not separate the 'other' component.
  • Revenue and disclosed interest income use the same three-month period ended March 31, 2026.
  • Amazon's non-marketable Anthropic and OpenAI investments are not included in the interest-bearing-securities numerator; their underlying activities remain part of qualitative review.

This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.

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