BG

Bunge Ltd.

HALAL — METHODS DIFFERstock

Is BG Halal?

Agricultural commodity trader — grain and oilseeds are permissible.

What You Should Know

Bunge's March 31, 2026 filing shows debt/assets 30.59%, liquidity/assets 1.98%, receivables plus cash/assets 10.12%, and interest income/revenue 0.21%. Agricultural processing is generally permissible, but biofuel, derivatives and trade-finance activity remain qualitative questions.

⚠️ Concerns

  • Trade structured finance
  • Commodity derivatives
  • Ethanol and industrial end uses
  • Activity revenue not fully quantified

Current quantitative Sharia screen

Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.

USD · millions
Interest-bearing debt / assets
30.59%Within limit
Below 33.333% under FTSE Yasaar

14,553 / 47,576

Cash + interest-bearing securities / assets
1.98%Within limit
Below 33.333% under FTSE Yasaar

941 / 47,576

Receivables + cash / assets
10.12%Within limit
Below 50% under FTSE Yasaar

4,814 / 47,576

Non-compliant income / revenue
0.21%Within limit
No more than 5% under FTSE Yasaar

45 / 21,861

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

Debt is 30.59%, liquidity is 1.98%, receivables plus cash is 10.12%, and interest income is 0.21%; each is below the examined FTSE thresholds. The activity screen remains incomplete.

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

Debt, liquidity and receivables plus cash are below the examined total-assets limits. This is not an index-membership claim; screened activity revenue remains undisclosed.

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

Debt and identifiable liquidity are below 33% of total assets. This is a calculation against SAC ratios, not an official classification; screened activity revenue remains unavailable.

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 stored, so market-cap methods are not estimated from a current spot price.

Business-activity disclosure

Bunge processes and merchandises oilseeds, grains, edible oils and food ingredients. Agricultural processing is generally permissible, but biofuels, commodity derivatives and structured trade finance require contract- and activity-level review.

Limitation: The filing does not provide a reproducible prohibited-revenue numerator for biofuels, interest-bearing trade finance, derivatives or other screened activity categories.

Purification

Interest income is disclosed at 0.21% of quarterly net sales, but product- and contract-level screened revenue remains incomplete and no universal purification amount is inferred.

Inputs, assumptions and primary sources
  • Debt combines $3,245 million of short-term debt, $1,361 million of current long-term debt and $9,947 million of long-term debt.
  • Cash is $839 million. The $102 million time-deposit balance under Bunge's trade structured-finance program is shown separately as identifiable interest-bearing securities.
  • Quarterly net sales are $21,861 million and disclosed interest income is $45 million.
  • Bunge does not separately quantify revenue from ethanol, conventional trade finance, derivatives or other product and contract categories that may be treated differently by scholars.

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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