Is ZM (Zoom Video Communications) halal?

DOUBTFUL: Enterprise communications software, but April 2026 liquidity/assets is 63.48% and conservative net interest income exceeds the examined FTSE income limit. Zoom's April 30, 2026 Form 10-Q shows $12,162.017m assets, no reported debt, $7,720.975m cash plus AFS debt securities, and $470.042m broad receivables. Liquidity/assets 63.48%; disclosed net interest-income proxy 5.56%.

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ZM

Zoom Video Communications

DOUBTFUL — SCREEN DOES NOT PASSstock

Is ZM Halal?

Enterprise communications software, but April 2026 liquidity/assets is 63.48% and conservative net interest income exceeds the examined FTSE income limit.

What You Should Know

Zoom's April 30, 2026 Form 10-Q shows $12,162.017m assets, no reported debt, $7,720.975m cash plus AFS debt securities, and $470.042m broad receivables. Liquidity/assets 63.48%; disclosed net interest-income proxy 5.56%.

⚠️ Concerns

•AI/communications tools have mixed customer use
•Liquidity ratio above examined limits
•Public-sector/financial-services use, privacy, recording consent, AI governance

Current quantitative Sharia screen

Based on 10-Q figures for the period ended 2026-04-30; calculated 2026-07-14.

USD · millions

Interest-bearing debt / assets

0.00%Within limit

Below 33.333% under FTSE Yasaar

0 / 12,162.017

Cash + interest-bearing securities / assets

63.48%Above limit

Below 33.333% under FTSE Yasaar

7,720.975 / 12,162.017

Receivables + cash / assets

11.19%Within limit

Below 50% under FTSE Yasaar

1,360.98 / 12,162.017

Non-compliant income / revenue

5.56%Above limit

No more than 5% under FTSE Yasaar

68.85 / 1,239.006

Methodology	Financial	Overall	What drives it
FTSE Yasaar v4.6, February 2026	Fails	Fails	Liquidity/assets is 63.48%, above the examined 33.333% limit, and the conservative interest-income proxy is 5.56%; debt/assets is 0%.
MSCI Islamic (total-assets series) October 2024 methodology	Fails	Fails	Liquidity/assets is 63.48%, above the examined MSCI total-assets limit; business activity remains incomplete without a prohibited-revenue numerator.
Malaysia SAC financial ratios single 5% activity benchmark adopted November 2025	Fails	Fails	Liquidity/assets is 63.48%, above the examined Malaysia SAC limit. This is a calculation against SAC ratios, not an official SAC classification.
Market-cap denominator methods MSCI M-Series, S&P and Dow Jones methods differ	Not calculated	Not calculated	A licensed historical market-cap series is not stored, so market-cap denominator methods are not estimated from a spot price.

FTSE Yasaar

v4.6, February 2026

Financial: Fails
Overall: Fails

Liquidity/assets is 63.48%, above the examined 33.333% limit, and the conservative interest-income proxy is 5.56%; debt/assets is 0%.

MSCI Islamic (total-assets series)

October 2024 methodology

Financial: Fails
Overall: Fails

Liquidity/assets is 63.48%, above the examined MSCI total-assets limit; business activity remains incomplete without a prohibited-revenue numerator.

Malaysia SAC financial ratios

single 5% activity benchmark adopted November 2025

Financial: Fails
Overall: Fails

Liquidity/assets is 63.48%, above the examined Malaysia SAC limit. This is a calculation against SAC ratios, not an official SAC classification.

Market-cap denominator methods

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

Financial: Not calculated
Overall: Not calculated

A licensed historical market-cap series is not stored, so market-cap denominator methods are not estimated from a spot price.

Business-activity disclosure

Zoom provides video meetings, phone, chat, contact center, developer and AI communication tools. Enterprise communications software is generally permissible.

Limitation: Zoom does not classify revenue by gambling, adult content, surveillance, military, financial-services or other potentially sensitive customer uses.

Purification

Conservative net interest income is 5.56% of quarterly revenue, but complete non-compliant income is not isolated. ZakatInvest does not prescribe a fixed purification percentage.

Inputs, assumptions and primary sources

Amounts are USD millions from Zoom's April 30, 2026 Form 10-Q; reported dollars were converted to millions.
The filing does not report interest-bearing debt. Available-for-sale debt securities are treated as identifiable interest-bearing securities.
Accounts receivable includes current and noncurrent reported receivables. Net interest income of $68.85 million is used as a conservative non-compliant-income proxy.
The filing does not separately disclose prohibited-business or downstream customer-use revenue.

U.S. Securities and Exchange Commission: Zoom Communications First Quarter Fiscal 2027 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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