The screening labels in OKX's Halal stock portfolio are not a set of "halal certifications" invented by OKX itself. Instead, they are a simplified version of the screening logic from AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) Standard No. 21, translated into tags that ordinary users can understand. The labels you see tell you whether a stock passes a certain screening threshold in dimensions such as "business activities, interest-bearing debt, and non-compliant income." However, they do not guarantee that the stock is undisputed under all schools of Islamic jurisprudence, nor do they represent an independent religious ruling by OKX separate from its data provider.
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First, clarify: The "Halal" you see on OKX may refer to two different things
OKX's "Halal stock portfolio" usually appears as a Smart Portfolio, not as an individual stock page with a detailed screening report. According to OKX's official Orbit account, the Halal Portfolio is a pre-weighted US stock basket that includes AMD, MU, TSLA, AAPL, NVDA, MSFT, LRCX, and others. The system will automatically rebalance to maintain target proportions. This portfolio solves the problem of "packaging a basket of US stocks that comply with Islamic law and automatically adjusting positions for me," but it does not show which specific screens each stock passed or which ones it failed.
If you see a label like "Halal" on OKX's tokenized stocks or smart portfolio interface, it is more likely a category marker at the portfolio level, telling you that "this basket of companies has undergone some form of Islamic compliance screening," rather than disclosing AAOIFI ratio values item by item. What you really need to verify is: what is the underlying screening basis for this portfolio, who performed the screening, and whether the thresholds are publicly disclosed.
The core screening logic of AAOIFI Standard No. 21
To understand what the labels represent, you first need to know what the standard behind them is screening for. AAOIFI Standard No. 21 is currently the most widely cited Islamic stock screening framework at the institutional level. Its core is business exclusion plus three financial ratio ceilings.
Business exclusion is a hard rule: conventional banks, insurance companies, alcohol production and sales, pork-related businesses, gambling, adult entertainment, tobacco, traditional weapons manufacturing, and similar categories. If a company's main business falls into these categories, it is directly disqualified. This step does not involve ratios; it is a "one-vote veto" based on industry.
There are three financial ratios. Interest-bearing debt ratio: interest-bearing debt divided by market capitalization (usually using a 36-month average market cap) must be below 30%. Non-compliant income ratio: income from prohibited sources such as interest and alcohol as a percentage of total revenue must be below 5%. Liquid asset ratio: cash plus interest-bearing securities divided by market cap must also be below 30%. The purpose is to exclude companies that have essentially become "cash piles earning interest."
If a company passes the business exclusion but has non-compliant income between 2% and 5%, it is still considered compliant, but investors need to perform purification: donate the portion of dividends corresponding to the non-compliant income ratio. Below 2% is usually considered "clean" and does not require purification.
What OKX's labels do not tell you
The label tells you that "this stock passed a certain Halal screen," but it does not tell you which threshold set was used, which data source, or as of what date. This is the most common sticking point in practice.
AAOIFI itself is a standard-setting body and does not directly provide real-time screening results to retail investors. Halal screening services on the market (including data that OKX may call) are usually implemented by third parties according to AAOIFI or Dow Jones Islamic Market (DJII) standards. The numerical values of the two standards differ: AAOIFI's debt ceiling is 30%, while DJII is 33%; AAOIFI's liquid asset ceiling is 30%, while DJII is 33%. A stock might pass DJII screening but sit on the edge of AAOIFI. If you see a stock labeled as Halal in OKX's portfolio, it most likely passed AAOIFI or DJII screening by some third-party data provider, but which one specifically and what threshold values were used cannot be seen from the portfolio label alone.
A more practical issue is purification responsibility. Under the AAOIFI framework, if a stock's non-compliant income is between 2% and 5%, the dividends received by the investor need to be purified proportionally. OKX's smart portfolio will not automatically calculate or execute this donation for you. Whether the dividends you receive from holding the portfolio need purification, and how much, depends on the specific non-compliant income ratio of each underlying stock, and this ratio is usually not disclosed in the portfolio interface. If you take purification obligations seriously, you need to use a third-party screening tool to check each constituent stock individually, rather than relying on the portfolio's "Halal" label.
A practical verification path
If you want to confirm whether the label you see is reliable, you can check in this order:
Step 1: Confirm whether you are looking at a portfolio label or an individual stock label. If you see "Halal Portfolio" on OKX's smart portfolio page, it marks the category of the entire preset portfolio. The constituent stocks and weights may be listed in the portfolio description, but the screening details are not there. If you see the word "Halal" on the detail page of a tokenized stock, look for a link or explanation pointing to the screening basis on that page.
Step 2: Use the constituent stocks to cross-check with a third-party AAOIFI screening tool. Take the stock tickers in OKX's Halal portfolio (AMD, MU, TSLA, etc.) and query them one by one in a public AAOIFI screening database (such as invest-like.com or Musaffa's public pages). See whether each stock's debt ratio and non-compliant income ratio are truly below the thresholds, and whether it is marked as "borderline" and needs purification. This step can help you judge whether OKX's label is a rough classification or a strict screening.
Step 3: If there are stocks in the portfolio that you have doubts about, do not skip judgment just because of the label. For example, TSLA may be excluded in some schools of Islamic jurisprudence due to other business controversies, but pass under other standards. OKX includes it in the portfolio, which means it passed the screening of the data source OKX uses, but that does not mean all scholars approve it. Your personal religious obligation ultimately depends on the juristic opinion you trust, not on the platform's label.
Boundaries that need to be clarified
This article cannot confirm which screening data provider and threshold version OKX's current Halal portfolio specifically uses, because OKX's public portfolio description does not disclose these fields item by item. If you cannot find an explanation of the screening basis in OKX's interface, the safest approach is to treat the portfolio's "Halal" label as a preliminary screening reference, not a final ruling. For larger positions or holdings you particularly care about, checking each one individually with an independent third-party tool and judging purification obligations yourself is more reliable than relying on an opaque label.
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References
- OKX·CRYPTO MIDDLE EAST on Halal Portfolio, 2026-11-03
- Is AXT, Inc.·AAOIFI Standard 21 halal screening methodology, 2026-11-03
- Is AXT, Inc.·What is AAOIFI Standard 21?, 2026-11-03
- Is AXT, Inc.·Halal stocks 2026: live AAOIFI Standard 21 screen, 2026-11-03
- Musaffa·Screening Methodology | AAOIFI Standards, 2026-11-03
