Is goeasy / GSY Halal?
goeasy Ltd. (TSX: GSY) is one of Canada's leading non-prime consumer lenders, operating under the easyfinancial, easyhome, and LendCare brands. Its core product is interest-bearing installment loans to borrowers with weak credit — and that fails gate one.
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, 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 — FAIL
goeasy's principal business is conventional consumer lending: unsecured and secured installment loans at disclosed annual rates of 29.99% to 46.96% (with a suite up to C$75,000 at rates from 9.99%), plus point-of-sale merchant financing and lease-to-own merchandise. The consumer loan portfolio was roughly C$4.6 billion at the end of 2024. Interest-based lending is a prohibited core activity — gate one: FAIL, and the ratio tests are not applied.
Gate two: not applicable
When the business-activity screen fails, the financial ratios don't change the outcome. (For context: goeasy funded a roughly C$4.6 billion loan book at end-2024, with securitized and term debt — a lender's balance sheet is structurally interest-heavy.)
The bottom line
This screener gives goeasy Ltd. (TSX: GSY) a FAIL. Like the other conventional lenders in our database, goeasy fails at the first gate: its core earnings are interest income. Q2 2026 results were reported August 6, 2026. No public Shariah rating from Zoya, Musaffa, or ShariaPortfolio was located for this ticker. Snapshot dated September 28, 2026; re-checked quarterly after earnings.
What could flip it: exiting conventional interest-based lending entirely — a fundamental business transformation, not a ratio fix. See all the screeners on the screeners hub.
Frequently asked questions
Is goeasy stock halal?
This screener gives goeasy Ltd. (TSX: GSY) a FAIL. goeasy is a non-prime consumer lender — its core business is issuing installment loans at 29.99% to 46.96% annual interest — and interest-based lending fails the business-activity screen, so the ratio tests are not applied. Lease-to-own furniture and appliance leasing through easyhome does not change the verdict.
What does goeasy do?
goeasy is one of Canada's leading non-prime consumer lenders, operating under the easyfinancial, easyhome, and LendCare brands with over 400 locations across Canada. Its revenue comes mainly from unsecured and secured installment loans to non-prime borrowers (roughly C$4.6 billion consumer loan portfolio at the end of 2024) plus point-of-sale financing through merchant partners.
Isn't lease-to-own halal like ijara?
Shariah-compliant lease (ijara) structures exist, but goeasy's business is dominated by conventional interest-bearing installment loans — the disclosed rates of 29.99% to 46.96% on unsecured loans are interest charges, not ijara profit. A lender whose core earnings are interest income fails the business-activity screen regardless of its smaller leasing arm.
What could change goeasy's halal screener?
goeasy would need to exit conventional interest-based lending entirely and convert its business to a Shariah-compliant model — a fundamental business transformation, not a ratio fix. No such plan has been announced. This screener is a snapshot dated September 28, 2026 and is re-checked quarterly; Q3 2026 results are due around early November 2026.
What do Zoya, Musaffa, and ShariaPortfolio say?
No verified current third-party verdict on goeasy was found in public sources during our September 2026 research — not on Zoya, Musaffa, or ShariaPortfolio. Our FAIL result is an independent application of the AAOIFI-style screen; consult a scholar or screener of your choice before investing.