GLBE
Global-E Online Ltd.
Is GLBE Halal?
Cross-border e-commerce technology — financial ratios pass, while income and merchant activity remain incomplete.
What You Should Know
Global-e's 2025 Form 20-F reports debt/assets of 0.10%, liquidity/assets of 21.88%, and receivables plus cash/assets of 20.62%. Cross-border commerce enablement is generally permissible, but merchant categories, payment/FX arrangements and a separately disclosed non-compliant-income numerator are unavailable.
⚠️ Concerns
- •Merchant product categories and prohibited-goods revenue are not disclosed
- •Payment processing, FX and financing arrangements require review
- •Gross non-compliant income is not separately disclosed
- •Cross-border data, sanctions, labor and supply-chain risks
Current quantitative Sharia screen
Based on 20-F figures for the period ended 2025-12-31; calculated 2026-07-14.
1.415 / 1,462.787
320.007 / 1,462.787
301.566 / 1,462.787
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 0.10%, liquidity/assets is 21.88% and receivables plus cash/assets is 20.62%; the required income and activity numerators are unavailable.
- Financial
- Pass
- Overall
- Incomplete
The calculated total-assets ratios are below the examined MSCI limits, but the income and prohibited-activity numerators are not reproducible from the filing.
- Financial
- Pass
- Overall
- Incomplete
Debt and liquidity are below the examined Malaysia limits; this is not an official SAC classification and income/activity inputs remain incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series is not stored.
Business-activity disclosure
Global-e provides cross-border e-commerce enablement, localized checkout, logistics and payment technology. The core software and commerce-enablement service is generally permissible in principle, while merchant categories, payment/FX arrangements, financing and downstream product mix require qualitative review.
Limitation: The filing does not provide a school-neutral prohibited-revenue numerator for merchants, product categories, payment services, FX or financing arrangements.
Purification
Gross non-compliant income is not separately disclosed in the selected filing; no unsupported purification estimate is made.
Inputs, assumptions and primary sources
- Amounts are USD millions from Global-e's 2025 Form 20-F.
- Debt uses the disclosed USD 1.415 million other long-term debt balance; operating lease liabilities are excluded.
- Cash is USD 245.860 million and marketable/available-for-sale debt securities total USD 74.147 million in the selected inputs.
- Accounts receivable are USD 55.706 million and 2025 revenue is USD 962.195 million.
- The filing does not separately disclose a gross non-compliant-income numerator; no unsupported estimate is inserted.
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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