RSKE
Riskified Ltd.
Is RSKE Halal?
Riskified's ecommerce risk software is generally permissible, but the current filing fails the examined liquidity and receivables screens because cash and bond holdings dominate assets.
What You Should Know
Riskified's audited December 31, 2025 Form 20-F reports USD 410.571 million of assets, USD 25.022 million of conservative operating-lease debt, USD 167.152 million of cash and deposits, USD 130.428 million of government and corporate bonds, USD 48.453 million of receivables and USD 344.638 million of revenue. Debt/assets is 6.09%, liquidity/assets is 72.49%, receivables-plus-cash/assets is 52.49% and disclosed interest income is 3.91% of revenue; liquidity and receivables fail the examined methods.
⚠️ Concerns
- •Liquidity/assets is 72.49%, above the examined limits
- •Receivables-plus-cash/assets is 52.49%
- •Government and corporate bond holdings generate disclosed interest income
- •Guarantee obligations, merchant categories, privacy and downstream ecommerce uses require review
Current quantitative Sharia screen
Based on Annual Report on Form 20-F figures for the period ended 2025-12-31; calculated 2026-07-15.
25,022 / 410,571
297,580 / 410,571
215,605 / 410,571
13,465 / 344,638
- Financial
- Fails
- Overall
- Fails
Debt/assets is 6.09%, liquidity/assets is 72.49% and receivables-plus-cash/assets is 52.49%; liquidity and receivables exceed the examined FTSE limits.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 72.49% and receivables-plus-cash/assets is 52.49%, above the examined MSCI total-assets limits.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 72.49%, above the examined Malaysia liquidity limit; this is a calculation, not an official classification.
- Financial
- Not calculated
- Overall
- Not calculated
A licensed historical market-cap series is not stored, so market-cap denominator methods are not calculated.
Business-activity disclosure
Riskified provides AI-powered ecommerce fraud and risk-intelligence software. The core technology service is generally permissible, while guarantee obligations, merchant categories, credit facilitation and downstream use require qualitative review.
Limitation: The filing does not allocate merchant revenue into a universal prohibited-activity numerator or identify all downstream credit and merchant-category exposure.
Purification
Disclosed interest income is available, but no scholar-approved purification percentage is inferred for the mixed cash, deposit and bond portfolio.
Inputs, assumptions and primary sources
- Amounts are USD thousands from Riskified's audited consolidated 2025 Form 20-F.
- Cash includes USD 162,152 thousand of cash and cash equivalents plus USD 5,000 thousand of short-term deposits; short-term investments are USD 130,428 thousand of government and corporate bonds.
- Debt conservatively includes current and non-current operating lease liabilities; the company reports no conventional borrowings in the balance sheet.
- Revenue is USD 344,638 thousand and disclosed net interest income/expense is USD 13,465 thousand; the filing describes the interest income as earned on deposits, money-market funds and marketable debt securities.
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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