Is Dollarama Inc. (DOL.TO) stock halal?

Yes, under our AAOIFI-based methodology Dollarama Inc. passes the business-activity and financial-ratio screens as shown on this page (data as of 2026-01-31). Check the dated ratio table before investing; ratios move with the share price.

Does Dollarama Inc. pass the AAOIFI financial ratio screen?

As of 2026-01-31: interest-bearing debt is 5.6% of market cap (limit < 30%); cash plus interest-bearing securities is 0.6% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page.

Is Dollarama Inc. held in halal ETFs like SPUS or HLAL?

Yes — as of our last check, Dollarama Inc. is held by WSHR. ETF inclusion confirms it passed those funds' Shariah screens at the holdings date cited in the sources below.

Do I need to purify dividends from Dollarama Inc.?

Yes, in most cases. Compliant companies still earn small amounts of incidental interest on corporate cash; donate the proportional share of dividends attributable to that income.

Is Dollarama Stock Halal? Dollarama Inc. (DOL.TO) passes our AAOIFI-based screen. Its core business is permissible, and (data as of 2026-01-31) interest-bearing debt is 5.6% of market cap and cash plus interest-bearing securities 0.6% — both inside the 30% AAOIFI thresholds. It is independently held by Shariah-screened ETF WSHR, confirming it passes professional screens. Ratios move with the share price, so check the data-as-of date; any incidental interest income should be purified. Reviewed 2026-06-15. Published by HalalWallet.

Is Dollarama Stock Halal?

Q: Is Dollarama Stock Halal?

Halal: Dollarama Inc. (DOL.TO) passes our AAOIFI-based screen. Its core business is permissible, and (data as of 2026-01-31) interest-bearing debt is 5.6% of market cap and cash plus interest-bearing securities 0.6% — both inside the 30% AAOIFI thresholds. It is independently held by Shariah-screened ETF WSHR, confirming it passes professional screens. Ratios move with the share price, so check the data-as-of date; any incidental interest income should be purified. (Financial data as of 2026-01-31; basis: AAOIFI Shariah standards.)

Q: Is Dollarama Inc. held in halal ETFs like SPUS or HLAL?

Yes — as of our last check, Dollarama Inc. is held by WSHR. ETF inclusion confirms it passed those funds' Shariah screens at the holdings date cited in the sources below.

Q: Do I need to purify dividends from Dollarama Inc.?

Yes, in most cases. Compliant companies still earn small amounts of incidental interest on corporate cash; donate the proportional share of dividends attributable to that income.

Dollarama Inc. · DOL.TO · TSX

HalalGenerally permissible

Dollarama Inc. (DOL.TO) passes our AAOIFI-based screen. Its core business is permissible, and (data as of 2026-01-31) interest-bearing debt is 5.6% of market cap and cash plus interest-bearing securities 0.6% — both inside the 30% AAOIFI thresholds. It is independently held by Shariah-screened ETF WSHR, confirming it passes professional screens. Ratios move with the share price, so check the data-as-of date; any incidental interest income should be purified.

Financial data as of 2026-01-31 · Screening basis: AAOIFI · Last reviewed 2026-06-15

HalalWallet is not a Shariah authority and does not issue religious rulings. We compile the most complete public record of what Shariah scholars, screening authorities, and mainstream standards say — reproduced from primary sources with dates and citations — and let you decide.

Do the halal screening authorities agree?

Single published source1 of 5 authorities with a published position

HalalWallet (AAOIFI)· Halal

HalalWallet (AAOIFI) rates Dollarama Inc. halal; no other recognized authority has a published position.

Stances are normalized from each authority's own dated public position. Disagreement usually reflects a methodology or standard difference (ratio timing, market-cap vs total-assets denominator), not an error. For the fund screens (Wahed/HLAL, SP Funds/SPUS), only a confirmed holding that passed the fund's screen counts as a pass — a non-holding is left blank because absence can reflect index scope.

Is Dollarama Stock Halal?

Interest-bearing debt / market cap: 5.6% (< 30%) — Pass
Cash + interest-bearing securities / market cap: 0.6% (< 30%) — Pass
Impermissible income / total revenue: 0.4% (< 5%) — Pass
Mainstream Shariah standards disagree on this company — see the cross-standard table below.
Financial ratios sourced from filings as of 2026-01-31.

How we read the evidence

HalalWallet's editorial synthesis of the screens, scholar positions, and sources documented on this page — not a religious ruling.

Dollarama is about as clean as consumer retail gets on the TSX from a business-activity standpoint. Unlike convenience stores or grocers, its disclosed merchandise mix, roughly half consumables like cleaning supplies, snacks, and health and beauty products, plus general merchandise and seasonal goods, contains no tobacco, no alcohol, and no lottery products. The product categories the company itself lists in its Annual Information Form are the everyday household items a dollar store is known for.

Independent screening supports this picture: Dollarama appears in the published holdings of Wealthsimple's Shariah World Equity Index ETF (WSHR), whose underlying index is certified by Islamic researchers at Ratings Intelligence Partners and excludes companies deriving more than five percent of income from alcohol, tobacco, conventional finance, and other impermissible categories, as well as companies with excessive leverage. Inclusion in a certified Shariah index is a meaningful third-party signal that both the business screen and the financial ratios were passing at the time of the index review.

The usual caveats are lighter here but still apply. Dollarama uses debt in its capital structure, including for its store network and its Australian expansion, so ratio-based compliance should be confirmed on a live screener before buying. But among Canadian consumer names, Dollarama is one of the few where the business screen raises no identifiable red flags from the company's own disclosures.

Business Activity Screen

Pass· impermissible revenue ≈ 0.4% (AAOIFI limit < 5%)

Dollarama is Canada's leading value retailer, selling a broad assortment at low fixed price points through stores across Canada (and, via its 2025 acquisition, The Reject Shop in Australia). Per its fiscal 2026 Annual Information Form, the merchandise mix was approximately 49% consumable products (cleaning supplies, health and beauty, pet food, confectionery, drinks, snacks, food), 38% general merchandise (housewares, kitchenware, hardware, electronics, toys, apparel, party and office supplies), and 13% seasonal items.

Dollarama's disclosed merchandise categories in its Annual Information Form do not include tobacco, alcohol, or lottery products; the categories listed are household consumables, food and beverages (non-alcoholic), general merchandise, and seasonal goods. No impermissible revenue lines are identifiable from the company's public filings. As always, incidental items such as interest on cash should be checked on a current screener for purification purposes.

Financial Ratio Screen

Screen	Value	AAOIFI limit	Result
Interest-bearing debt / market cap	5.6%	< 30%	Pass
Cash + interest-bearing securities / market cap	0.6%	< 30%	Pass
Impermissible income / total revenueInterest income $25.7M on $7.26B total revenue (Dollarama Inc. FY2026 (fiscal year ended 2026-01-31, annual report (SEDAR+))) = 0.4% — under AAOIFI's 5% limit.	0.4%	< 5%	Pass

Spot market cap at research date (consider trailing average for borderline names). Data as of 2026-01-31 · thresholds per AAOIFI Shariah standards.

This verdict uses the AAOIFI standard — the most widely used and, at a 30% debt limit, the most conservative mainstream Shariah standard. Interest-bearing debt and interest-bearing securities each stay under 30% of market cap, and impermissible income under 5% of revenue. Other standards (Dow Jones Islamic, S&P Shariah, MSCI Islamic, FTSE Yasaar) use ~33% limits or screen against total assets, so a borderline company can be rated differently by each. How we screen & why screeners disagree →

How Dollarama screens across Shariah standards

The standards disagree on this company. It passes some Shariah screens and fails others — which is exactly why you may see a different answer in different apps. Our headline verdict uses AAOIFI, the strictest and most widely cited mainstream standard.

Standard	Debt	Cash & interest securities	Limit / basis	Result
AAOIFI (our standard)	5.6%	0.6%	< 30% of market cap	Pass
Dow Jones Islamic / S&P Shariah thresholdDow Jones and S&P apply this limit against a trailing 24–36-month average market cap; shown here on the same point-in-time market cap for comparison.	5.6%	0.6%	< 33% of market cap	Pass
MSCI Islamic / FTSE Yasaar basisTotal-assets denominator. MSCI/FTSE also apply entry/exit buffers and a receivables screen we do not reproduce.	45.3%	9.9%	< 33.33% of total assets	Fail

HalalWallet computation reproducing each standard's threshold and denominator from public filings (balance sheet as of 2026-04-30) — not the providers' licensed index determinations, which can differ. Debt is interest-bearing borrowings (operating leases excluded). The impermissible-income screen (< 5% of revenue) is common to all of these standards and is shown in the ratio table above. Dow Jones and S&P apply their limit against a trailing 24–36-month average market cap; MSCI and FTSE add entry/exit buffers and a receivables screen. Full methodology →

These companies pass under some mainstream standards and fail under others — the same pattern as this verdict. That is why two apps can show different answers.

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