Is BKNG2 (Booking Holdings (International)) halal?

Q: Is BKNG2 (Booking Holdings (International)) halal?

HALAL: Online travel booking — facilitates permissible travel. Booking Holdings' March 2026 filing reports $27,720 million of assets, $18,413 million of debt, $16,024 million of cash, $473 million of long-term investments and $5,532 million of quarterly revenue. Debt/assets is 66.42%, liquidity/assets is 59.51% and receivables-plus-cash/assets is 70.51%, so the examined asset-based financial screens fail; listing content remains qualitative.

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BKNG2

Booking Holdings (International)

HALAL — SCREEN DOES NOT PASSstock

Is BKNG2 Halal?

Online travel booking — facilitates permissible travel.

What You Should Know

Booking Holdings' March 2026 filing reports $27,720 million of assets, $18,413 million of debt, $16,024 million of cash, $473 million of long-term investments and $5,532 million of quarterly revenue. Debt/assets is 66.42%, liquidity/assets is 59.51% and receivables-plus-cash/assets is 70.51%, so the examined asset-based financial screens fail; listing content remains qualitative.

⚠️ Concerns

•Debt/assets is 66.42% under the examined asset screen
•Liquidity/assets is 59.51%
•Receivables-plus-cash/assets is 70.51%
•Lists alcohol-serving hotels and other questionable activities indirectly
•Disclosed interest and dividend income is 3.38% of quarterly revenue

Current quantitative Sharia screen

Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.

USD · millions

Interest-bearing debt / assets

66.42%Above limit

Below 33.333% under FTSE Yasaar

18,413 / 27,720

Cash + interest-bearing securities / assets

59.51%Above limit

Below 33.333% under FTSE Yasaar

16,497 / 27,720

Receivables + cash / assets

70.51%Above limit

Below 50% under FTSE Yasaar

19,544 / 27,720

Non-compliant income / revenue

3.38%Within limit

No more than 5% under FTSE Yasaar

187 / 5,532

Methodology	Financial	Overall	What drives it
FTSE Yasaar v4.6, February 2026	Fails	Fails	Debt/assets is 66.42%, liquidity/assets is 59.51% and receivables-plus-cash/assets is 70.51%; debt and liquidity exceed the examined FTSE limits, despite interest and dividend income being 3.38% of quarterly revenue.
MSCI Islamic (total-assets series) October 2024 methodology	Fails	Fails	Debt/assets is 66.42%, liquidity/assets is 59.51% and receivables-plus-cash/assets is 70.51%, above the examined MSCI total-assets limits.
Malaysia SAC financial ratios single 5% activity benchmark adopted November 2025	Fails	Fails	Debt/assets is 66.42% and liquidity/assets is 59.51%, above the examined Malaysia limits; this is a calculation against SAC ratios, not an official classification.
Market-cap denominator methods MSCI M-Series, S&P and Dow Jones methods differ	Not calculated	Fails	A licensed 24- or 36-month market-cap series is not stored; the asset-based financial screen already fails on debt, liquidity and receivables.

FTSE Yasaar

v4.6, February 2026

Financial: Fails
Overall: Fails

Debt/assets is 66.42%, liquidity/assets is 59.51% and receivables-plus-cash/assets is 70.51%; debt and liquidity exceed the examined FTSE limits, despite interest and dividend income being 3.38% of quarterly revenue.

MSCI Islamic (total-assets series)

October 2024 methodology

Financial: Fails
Overall: Fails

Debt/assets is 66.42%, liquidity/assets is 59.51% and receivables-plus-cash/assets is 70.51%, above the examined MSCI total-assets limits.

Malaysia SAC financial ratios

single 5% activity benchmark adopted November 2025

Financial: Fails
Overall: Fails

Debt/assets is 66.42% and liquidity/assets is 59.51%, above the examined Malaysia limits; this is a calculation against SAC ratios, not an official classification.

Market-cap denominator methods

MSCI M-Series, S&P and Dow Jones methods differ

Financial: Not calculated
Overall: Fails

A licensed 24- or 36-month market-cap series is not stored; the asset-based financial screen already fails on debt, liquidity and receivables.

Business-activity disclosure

Booking Holdings facilitates online accommodation, flight, rental-car and restaurant reservations. Travel intermediation is generally permissible, but the platform can list hotels, restaurants and activities involving alcohol, gambling or other content that is not separately quantified.

Limitation: The filing does not provide a reproducible prohibited-revenue numerator by property, booking or advertising category, so the activity conclusion remains qualitative.

Purification

Interest and dividend income is disclosed at $187 million, but no scholar-approved purification percentage is calculated.

Inputs, assumptions and primary sources

Amounts are USD millions from Booking Holdings' March 31, 2026 Form 10-Q; BKNG2 is ZakatInvest's international alias for the issuer.
Debt combines $3,015 million of short-term debt and $15,398 million of long-term debt.
Cash is $16,024 million and long-term investments are $473 million; accounts receivable are $3,520 million.
Quarterly revenue is $5,532 million and disclosed interest and dividend income is $187 million.

U.S. Securities and Exchange Commission: Booking Holdings March 31, 2026 Form 10-Q FTSE Russell: FTSE Yasaar Global Equity Shariah Index Series Ground Rules MSCI: MSCI Islamic Index Series Methodology Securities Commission Malaysia: Shariah-Compliant Securities Screening Methodology

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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