Canadian Halal Investor.

TSX Shariah screener · October 2026

Is Urbana Corporation (URB) Halal?

FAIL

Urbana Corporation · TSX: URB · Financials

The short answer

No — Urbana Corporation (URB) fails this Shariah stock screen on the cash/securities gate. It is a Toronto-based investment holding company focused on financial services, information services, and innovative technologies — no alcohol, tobacco, gambling, weapons, pork, or adult-entertainment lines were disclosed — but cash of C$1.93M plus marketable (publicly traded) securities of C$310.49M at June 30, 2026 total about C$312.4M, roughly 86.7% of its C$360.55M market cap, over the ~33% ceiling. Debt is about 10.1% of market cap and separately disclosed interest income is about 0.04% of revenue, both comfortably under their ceilings. No Zoya, Musaffa, or ShariaPortfolio rating was found for this ticker — honestly reported as absent, not invented.

Gate 1 — Business activity: PASS

Urbana Corporation (TSX:URB; also listed on the CSE) is a diversified investment holding company treated as an investment entity for accounting: it invests in private opportunities for capital appreciation plus publicly traded securities for growth, income, and liquidity, focused on financial services, information services, and innovative technologies. No alcohol, pork, gambling, tobacco, cannabis, weapons, or adult-entertainment operating lines were disclosed — gate 1 passes. Disclosures for the reader: the June 30, 2026 portfolio (C$673.85M at fair value) includes conventional-bank equities (Morgan Stanley C$74.14M, Bank of America C$28.29M, Citigroup C$14.89M) plus broker-dealers and exchanges; the company earns interest income (a C$5M promissory note from the Canadian Securities Exchange at 7.5%/yr) and pays interest on its bank loan facility; FundThrough is a lending platform; Tetra Digital Group issued Canada's first CAD-backed stablecoin (scholars differ on crypto). Facts only.

Gate 2 — Debt and cash: PASS

Loan payable at June 30, 2026 was C$36.5M (a demand facility with a major Canadian bank, prime + 0.25%, up to C$50M). Against a market capitalization of roughly C$360.55M (41,395,100 shares at C$8.71, October 1, 2026), debt ÷ market cap is about 10.1% — well under the ~33% ceiling. A full-text search of the interim filing found no lease or right-of-use liabilities; the C$56.47M deferred tax liability is not interest-bearing debt. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: FAIL (cash/securities gate)

"Interest" is a separately disclosed revenue line: C$26,470 for the six months ended June 30, 2026 against total revenue of C$68,178,943 — about 0.04%, well under the ~5% ceiling. However, cash of C$1.93M plus publicly traded (marketable) equity securities of C$310.49M at June 30, 2026 total about C$312.4M — about 86.7% of the C$360.55M market cap — over the ~33% cash-and-securities ceiling, robust across any plausible definition (about 90.5% on Finnhub's own C$345.2M cap; about 187% if all fair-value investments including private equity are counted). This gate fails, and it is decisive. Facts only.

Key figures used

Frequently asked questions

Is Urbana Corporation (URB) halal?

No. Urbana Corporation fails this Shariah stock screen on the cash/securities gate. It is a Toronto-based investment holding company focused on financial services, information services, and innovative technologies — no alcohol, tobacco, gambling, weapons, pork, or adult-entertainment lines were disclosed — but cash of C$1.93M plus marketable (publicly traded) securities of C$310.49M at June 30, 2026 total about C$312.4M, roughly 86.7% of its C$360.55M market cap, over the ~33% ceiling. Debt is about 10.1% of market cap and separately disclosed interest income is about 0.04% of revenue, both comfortably under their ceilings. No Zoya, Musaffa, or ShariaPortfolio rating was found for this ticker — honestly reported as absent, not invented. This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.

What is Urbana Corporation's cash-and-securities-to-market-cap ratio?

About 86.7%. Cash of C$1.93M plus publicly traded equity securities of C$310.49M at June 30, 2026 total about C$312.4M, against a market cap of roughly C$360.55M (41,395,100 shares at C$8.71, October 1, 2026) — over the ~33% ceiling, robust whether Finnhub's own C$345.2M cap figure is used (~90.5%) or all fair-value investments are counted (~187%).

What does Urbana Corporation do?

Urbana Corporation (TSX:URB; also CSE) is a Toronto-based diversified investment holding company investing in private equity and publicly traded securities, focused on financial services, information services, and innovative technologies. Its June 30, 2026 portfolio was C$673.85M at fair value: private equity C$358.08M (largest: CNSX Global Markets, Blue Ocean Technologies, Tetra Digital Group), public equity C$310.49M (including Morgan Stanley, Bank of America, and Citigroup), and private debt C$5.28M.

What is Urbana Corporation's debt-to-market-cap ratio?

About 10.1%. Loan payable of C$36.5M at June 30, 2026 (a demand facility with a major Canadian bank, prime + 0.25%), against a market cap of roughly C$360.55M (C$8.71, October 1, 2026) — well under the ~33% ceiling. No lease liabilities were disclosed in the filing.

Where can I find more financials stock screeners?

See halal-stock-verdicts.html for the full list of stock screeners, including the other financials-sector entries.

Sources

Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.