Is Eldorado Gold / ELD Halal?
Eldorado Gold Corporation (TSX: ELD) is a gold and base-metals producer with four operating mines — Kisladag and Efemcukuru in Türkiye, Lamaque in Québec, and Olympias in Greece — plus the Skouries project in Greece nearing first concentrate. On our primary-filing math the business has no verified haram lines, total debt of US$1,749.9 million is ~17.0% of the ~US$10.27 billion market cap, and interest income is just ~1.11% of revenue. Conditional PASS* — Musaffa classifies ELD as not halal as of September 2026, so read the third-party section before deciding.
The two-gate Shariah screen
Every screener on this site runs the same two gates: first, the business must be halal (no conventional insurance, banking, alcohol, gambling, weapons manufacturing, and the like); second, the financial ratios must clear (debt under roughly 33% of market cap, non-compliant income under roughly 5%).
Gate one: the business — passes
Eldorado Gold is a gold and base-metals producer with mining, development and exploration operations in Türkiye, Canada and Greece. No verified involvement in weapons/defence, gambling, alcohol, tobacco, pork or adult entertainment was found. Gate one: passes.
Gate two: the ratios — pass
The debt gate passes. As at June 30, 2026 (in US dollars): current portion of debt of US$231.749 million plus non-current debt of US$1,518.164 million, for total debt of US$1,749.9 million. Market cap is about US$10.27 billion (C$55.84 TSX close on September 28, 2026 × 260.81 million shares, at a CAD/USD rate of about 1.42) — putting total debt at ~17.0% of market cap, below the ~33% ceiling. The income gate passes. The Q2 2026 income statement reports standalone interest income of US$5.399 million against metal sales of US$487.456 million — ~1.11% of revenue, below the ~5% ceiling. (The cash-flow statement confirms US$5.399 million of interest received.) Gate two: passes.
What other screeners say — a disagreement
Musaffa rates ELD not halal as of September 2026 under its AAOIFI methodology, but its page does not disclose which threshold failed. ShariaPortfolio's ELD page instead calls it Shariah Compliant (passing 3 of 5 standards screened), though that page is stale. On the primary-filing math above, debt is ~17.0% and interest income is ~1.11% — both below the ceilings — so the basis of Musaffa's disagreement is unclear. Because a respected third-party screener disagrees, this screener is marked conditional: review both screens and consult a qualified scholar before deciding.
The bottom line
This screener gives Eldorado Gold Corporation (TSX: ELD) a conditional PASS. Gold and base-metals mining has no verified haram lines, total debt is ~17.0% of market cap, and interest income is ~1.11% of revenue — both below the ceilings. But Musaffa disagrees, so this is a snapshot dated September 29, 2026 to weigh alongside independent screens, re-checked quarterly after earnings.
The purification angle: even on a PASS, interest income of ~1.11% of revenue means a small non-compliant share — run the purification calculator to estimate it on any dividends or gains.
Frequently asked questions
Is Eldorado Gold stock halal?
This screener gives Eldorado Gold Corporation (TSX: ELD) a conditional PASS. On the primary-filing math the gold and base-metals miner (Kisladag and Efemcukuru in Türkiye, Lamaque in Québec, Olympias in Greece) has no verified haram business lines, total debt of US$1,749.9 million is about 17.0% of the ~US$10.27 billion market cap, and interest income of US$5.399 million is about 1.11% of quarterly revenue. However, Musaffa classifies ELD as not halal as of September 2026 — so treat this screener as conditional and read the third-party section before deciding.
What are Eldorado Gold's debt and market-cap figures?
As at June 30, 2026 (Q2 2026, in US dollars): current portion of debt of US$231.749 million plus non-current debt of US$1,518.164 million, for total debt of US$1,749.9 million. Market cap is about US$10.27 billion (C$55.84 TSX close on September 28, 2026 × 260.81 million shares at a CAD/USD rate of about 1.42). The debt-to-market-cap ratio is about 17.0% — below the ~33% ceiling.
Does Eldorado Gold earn interest income?
A modest amount, explicitly disclosed. The Q2 2026 income statement reports standalone interest income of US$5.399 million against metal sales of US$487.456 million — about 1.11% of revenue, below the ~5% ceiling. (The cash-flow statement confirms US$5.399 million of interest received.)
Why do third-party screeners disagree on Eldorado Gold?
Musaffa's public ELD page classifies Eldorado Gold as not halal as of September 2026 under its AAOIFI methodology, without disclosing which threshold failed. ShariaPortfolio's ELD screener page instead calls it Shariah Compliant (3/5 standards passed), though that page is stale. On the primary-filing math used in this screener, debt is ~17.0% of market cap and interest income is ~1.11% of revenue — both below the ceilings — so the basis of Musaffa's disagreement is unclear. Because a respected third-party screener disagrees, this screener is marked conditional: review both screens and consult a qualified scholar before deciding.
What could change Eldorado Gold's halal screener?
Debt-funded construction or expansion (notably the Skouries project in Greece) could push debt-to-market-cap toward the ~33% ceiling — it sits at ~17.0% today. Interest income rising above roughly 5% of revenue would also change the screen, as would a change in Musaffa's rating. This screener is a snapshot dated September 29, 2026 and is re-checked quarterly after earnings.