Risk Disclaimer

SEBI Regulatory Disclaimer

We do not provide personalised investment advice, specific buy/sell/hold recommendations, or portfolio management services. The screening results displayed on this platform are generated by automated algorithms and should not be construed as recommendations to purchase, sell, or hold any security.

Users are strongly advised to consult with a SEBI-registered investment advisor before making any investment decisions. The information provided by this Service does not take into account your specific financial situation, risk tolerance, investment objectives, or tax implications.

Shariah Screening Disclaimer

Our screening methodology is anchored to the S&P Shariah Indices framework, AAOIFI standards, and ICIF India guidance. However, there is scholarly disagreement on certain aspects of Islamic equity screening, and different scholars and boards may reach different conclusions on the same stock.

• The classification of a stock as "Halal", "Requires Review", or "Non-Compliant" is an automated assessment, not a religious certification.
• Users must independently verify compliance with their preferred school of Islamic jurisprudence (fiqh) and consult with a qualified Shariah scholar or their local Islamic authority.
• Shariah compliance is not static. A stock's compliance status may change as the company's financial position evolves, as new quarterly/annual reports are published, or as screening rules are updated.
• Income purification ratios and zakat calculations, if provided, are estimates and should be verified with a qualified scholar.

Market Risk Warning

Investments in equity securities are subject to market risks. The value of your investments can go down as well as up, and you may receive back less than you originally invested. Specific risks include but are not limited to:

• Market Volatility: Stock prices on the NSE/BSE are subject to significant short-term fluctuations driven by economic conditions, geopolitical events, regulatory changes, and market sentiment.
• Liquidity Risk: Some Shariah-compliant stocks, particularly small-cap and mid-cap securities, may have lower trading volumes, making it difficult to buy or sell at desired prices.
• Concentration Risk: Shariah-compliant stock universes are inherently smaller than the broader market, which may lead to sector or thematic concentration in portfolios.
• Currency and Inflation Risk: The purchasing power of your investments may be eroded by inflation. Indian Rupee fluctuations may affect the value of companies with significant foreign operations.
• Regulatory Risk: Changes in SEBI regulations, taxation laws (including Securities Transaction Tax, LTCG, STCG), or corporate governance rules may adversely affect investment returns.

Data Accuracy and Reliability

Barakfi relies on third-party data sources, primarily Yahoo Finance public APIs, for financial statements, stock prices, and company information. We make reasonable efforts to ensure data accuracy, but:

• Financial data may be delayed by up to 24 hours or more. Real-time data is not guaranteed.
• Company financial statements sourced from third-party providers may contain errors, omissions, or discrepancies compared to filings on the BSE/NSE or the Ministry of Corporate Affairs (MCA).
• Sector classifications and business descriptions used for sector screening are based on publicly available information and may not reflect the full scope of a company's activities.
• Exchange rates, market capitalisation figures, and calculated ratios are based on data available at the time of screening and may change.
• We do not independently audit or verify the financial statements of the companies screened on our platform.

Users should always cross-reference screening results with official filings available on the NSE (nseindia.com), BSE (bseindia.com), and MCA portals.

No Guarantee of Ongoing Compliance

A stock's Shariah compliance status at any given time is based on the most recent available data. There is no guarantee that a stock classified as "Halal" today will remain compliant in the future. Factors that may affect compliance include:

• Changes in the company's debt structure, revenue mix, or business activities reported in subsequent quarterly or annual filings.
• Mergers, acquisitions, or corporate restructuring that alter the company's fundamental business profile.
• Updates to our screening methodology, threshold values, or data sources.
• Delays in data refresh due to reporting timelines, API limitations, or technical issues.
• Evolving scholarly opinions and changes to Islamic finance standards that may redefine permissibility criteria.

Limitation of Liability

Barakfi, its founders, directors, employees, and affiliates shall not be held responsible for:

• Any financial losses, investment losses, or opportunity costs incurred as a result of relying on screening results provided by this Service.
• Errors, inaccuracies, or delays in the data provided by third-party sources.
• Any religious consequences arising from investment decisions made based on our screening classifications.
• Service interruptions, downtime, or technical failures that may prevent access to screening results.

Regulatory Environment

The regulatory environment for fintech platforms in India is evolving. SEBI, RBI, and other regulatory bodies may introduce new rules, guidelines, or licensing requirements that could affect the operation of this Service. We are committed to complying with all applicable regulations and will make necessary adjustments to the Service as the regulatory landscape evolves.

If future regulations require Barakfi to obtain specific licences or registrations, we will pursue such compliance. Users will be notified of any material changes to the Service's regulatory status.

User Acknowledgement

Third-Party Advertising

Barakfi displays advertisements from third-party ad networks, including Google AdSense (web) and Google AdMob (mobile). The appearance of any advertisement on this platform does not constitute an endorsement, guarantee, or recommendation of the advertised product, service, or company by Barakfi. We do not control the content of third-party advertisements and are not responsible for any claims made therein. Users should exercise independent judgement before engaging with any advertised content.

Report Concerns

If you believe any screening result is inaccurate or if you have concerns about the data or methodology used: