For Borsa Istanbul shares, the most authoritative free screen is Borsa Istanbul's own Katılım index constituent list, built on the TKBB participation finance standard and refreshed twice a year, with the October 2026 revision moving 13 stocks into and 13 out of BIST Katılım 30. Kuveyt Türk Yatırım publishes the same screening on its Katılım Endeksleri page. The global apps differ on coverage: Musaffa publishes a Turkey stock list and screens by AAOIFI, Islamicly advertises coverage of 175-plus countries, and Zoya's published market list does not include Turkey. Because TKBB and AAOIFI use different ratios and thresholds, a BIST company can pass one screen and fail another, so pick a standard first and an app second.
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Start with the free screen: BIST Katılım indices
Borsa Istanbul runs a family of Katılım indices (BIST Katılım 30, 50, 100, Katılım Tüm, Katılım Sürdürülebilirlik, Katılım Temettü and others) whose constituents are screened against the participation finance standard issued by the Participation Banks Association of Türkiye (TKBB). The rule set we checked on 2 October 2026 is the version effective from 29 September 2026. Companies submit a Katılım Finans İlkeleri Bilgi Formu (KAFİF form) with their financial data; a KAFİF Committee evaluates it; the exchange then selects constituents from companies that pass, with the Katılım 30, 50 and 100 drawn from the Yıldız Pazar and ranked by free-float market value and traded value.
The screen has two parts. The first is activity-based: a company whose main business is interest-based finance, alcohol, gambling, pork, tobacco, weapons, pornography or similar is excluded regardless of ratios. The second is ratio-based, and the rule set states three thresholds:
- Revenue from impermissible activities must not exceed 5 percent of total revenue.
- Interest-bearing debt must not exceed 33 percent of total assets.
- Interest-bearing financial assets (cash, deposits, securities earning interest) must not exceed 33 percent of total assets.
The rules also define a tolerance band: if a ratio exceeds its threshold by up to 10 percent of the threshold in one period, the company stays in the index with a warning, but a breach in two consecutive periods leads to removal. Index periods run from the first trading day of May and the first trading day of October, and KAFİF data is taken as of the fifth trading day before each period starts. This is why the lists change in late April and late September, and why a stock that passes today may be out in six months.
The October 2026 periodic revision illustrates the churn. Borsa Istanbul's announcement listed 13 additions and 13 removals for BIST Katılım 30, 24 and 24 for Katılım 50, 34 and 34 for Katılım 100, 24 additions and 33 removals for Katılım Tüm, four additions and two removals for Katılım Sürdürülebilirlik, and five additions and three removals for Katılım Temettü. Albaraka Türk (ALBRK) was added to Katılım 30 and 50; Katılımevim (KTLEV) was removed from Katılım 30, 50 and 100. Anyone running a BIST portfolio off an old list would have been holding several names that no longer qualify.
Our explainer on how the BIST Katılım indices work walks through the index construction, and our page on halal stocks in Turkey keeps the current constituent names.
Kuveyt Türk Yatırım's Katılım Endeksleri page
Kuveyt Türk Yatırım Menkul Değerler, the brokerage subsidiary of Kuveyt Türk, publishes a Katılım Endeksleri page that reproduces the participation-compliant universe for its clients, including the index constituents and the screening framework the exchange applies. For a Turkish investor who already has a Kuveyt Türk account, this is the lowest-friction option: the broker's own trading screens are built around the same list, and the firm is overseen by Kuveyt Türk's advisory board, so the screen and the broker share one standard.
The limitation is scope. The page covers BIST and the TKBB standard only. If you hold US or European shares as well, you still need a second tool, and if you want purification figures per stock, the index framework does not publish them. We review the brokerage itself in our Kuveyt Türk Yatırım review and list it on our provider page.
The global apps: Zoya, Musaffa and Islamicly
The three best-known halal screening apps all state on their sites that they screen by the AAOIFI Shariah standard. Where they differ, for a Turkish user, is whether they screen BIST at all.
Zoya describes itself as the halal investing app that screens over 60,000 stocks and ETFs and, in its investor FAQ, lists the markets it currently covers: the United States, the United Kingdom, Canada, Australia, Germany, India, Japan, Poland, Taiwan and OTC markets. Turkey is not on that list as of 2 October 2026, so Zoya is a tool for a Turkish investor's foreign holdings rather than for BIST. It groups results as compliant, non-compliant or questionable, and offers a zakat calculator.
Musaffa states that its halal stock screener covers 150-plus markets and publishes a Halal Stocks in Turkey page listing BIST names with its compliance status. It grades stocks on a scale from C minus to A plus, shows three years of screening history, and includes a purification calculator that estimates the impermissible portion of dividends and gains. It operates a free plan and a Premium plan; we did not record the current price, so check the app store listing.
Islamicly, from Islamicly Technologies, advertises stock screening across 175-plus countries with AAOIFI methodology, purification insights for dividends and a brokerage import feature so that an existing portfolio can be screened in one pass. Its site did not publish a coverage list by exchange when we checked, so confirm BIST ticker coverage in the app before paying for a subscription.
Comparison table for a Turkish investor
| Tool | Covers BIST shares? | Screening standard | Cost | Update cadence | Purification figure |
|---|---|---|---|---|---|
| BIST Katılım index lists | Yes, all screened Yıldız Pazar and other market companies via KAFİF | TKBB participation finance standard (5/33/33) | Free | Twice a year, May and October periods | Not published |
| Kuveyt Türk Yatırım Katılım Endeksleri page | Yes, BIST only | TKBB, as applied by Borsa Istanbul | Free; brokerage account for trading | Follows the index periods | Not published |
| Zoya | No, Turkey is not in its published market list | AAOIFI | Free tier plus paid plan | Continuous, on new filings | Not checked |
| Musaffa | Yes, publishes a Turkey stock list | AAOIFI | Free plan plus Premium | Continuous, with three-year history | Yes, purification calculator |
| Islamicly | Advertises 175-plus countries; verify tickers in app | AAOIFI | Subscription; price not recorded | Continuous | Yes, dividend purification insights |
TKBB and AAOIFI do not always agree
This is the point most new users miss. The TKBB standard behind the BIST lists measures interest-bearing debt and interest-bearing assets against total assets, with 33 percent limits, and caps impermissible revenue at 5 percent. AAOIFI's standard uses its own ratio bases and thresholds, and the apps apply their own interpretations of it. Because the denominators and limits are not identical, a BIST company can be inside Katılım 100 while an AAOIFI-based app marks it non-compliant, or the reverse. Neither result is a mistake; they are different standards.
For a Turkish investor the practical consequence is to decide which authority you follow and stay consistent. Most participation banks, their brokerages and their pension funds follow the TKBB standard, so if your BES fund, your brokerage and your personal screen all use TKBB you will not get contradictory signals. If you prefer AAOIFI, you can still invest in BIST, but you should run every holding through the app rather than relying on index membership. Our explainer on the TKBB screening standard sets out the ratios in full.
Purification and zakat: what the tools do and do not do
Index membership says a company passed the 5 percent revenue test; it does not tell you what share of its dividend came from impermissible income. Borsa Istanbul and Kuveyt Türk Yatırım do not publish a purification percentage. Musaffa and Islamicly do, computed on their AAOIFI screens. If you hold BIST shares and want to purify dividends, the workable approach is to read the company's annual report for interest income as a share of total revenue and donate that share of your dividend, or use an app's figure as an estimate. Our zakat and purification guide explains how this interacts with the annual zakat calculation on shares.
A practical workflow for BIST
- Download the latest BIST Katılım 30, 50 or 100 constituent list from Borsa Istanbul, or read it on Kuveyt Türk Yatırım's page. Check the date; lists change at the start of May and October.
- Pick the standard you will follow. TKBB if you want alignment with participation banks and Katılım funds; AAOIFI if you follow an international scholar body.
- For each stock you want to hold outside the index, confirm the company submitted a KAFİF form and passed, or run it through Musaffa or Islamicly.
- Set a diary reminder for late April and late September to re-check holdings against the new period's list, and sell or purify as needed.
- Record impermissible income shares each year for purification, using the annual report or the app's estimate.
- Open your brokerage account with a firm that trades on the same screen you use; see our investing hub for participation-compliant brokers.
Verdict
For Turkish shares, the best screener is the one Borsa Istanbul already runs: the Katılım index constituent lists, built on the TKBB standard, updated every May and October, free, and reproduced on Kuveyt Türk Yatırım's Katılım Endeksleri page. The October 2026 revision, with 13 changes in Katılım 30 alone and Albaraka Türk entering while Katılımevim left, shows why checking the date on the list matters. Among the apps, Musaffa is the only one of the three that publishes a Turkey stock list; Islamicly advertises broad country coverage that you should verify ticker by ticker; Zoya's published market list does not include Turkey and is best kept for foreign holdings. Choose a standard before you choose an app, and expect TKBB and AAOIFI results to differ on some names. Facts checked against borsaistanbul.com, kap.org.tr, kuveytturkyatirim.com.tr, zoya.finance, musaffa.com and islamicly.com on 2 October 2026.
Frequently asked questions
Which halal stock screener covers Borsa Istanbul?
Borsa Istanbul's own Katılım index lists cover BIST completely and are free. Kuveyt Türk Yatırım republishes the screen on its Katılım Endeksleri page. Of the global apps, Musaffa publishes a Halal Stocks in Turkey list and Islamicly advertises coverage of 175-plus countries; Zoya's published market list on 2 October 2026 did not include Turkey. If your portfolio is only BIST, the free index list is enough; add an app if you hold foreign shares or want purification figures.
What are the TKBB screening thresholds for BIST Katılım indices?
The rule set effective from 29 September 2026 sets three limits: impermissible revenue at most 5 percent of total revenue, interest-bearing debt at most 33 percent of total assets, and interest-bearing financial assets at most 33 percent of total assets. Companies in prohibited sectors are excluded outright. A breach of up to 10 percent above a threshold is tolerated for one period; two consecutive breaches lead to removal at the next periodic revision.
How often do the Katılım index lists change?
Twice a year. Index periods begin on the first trading day of May and the first trading day of October, and the KAFİF data used for screening is taken as of the fifth trading day before each period. The October 2026 revision changed 13 constituents in BIST Katılım 30, 24 in Katılım 50 and 34 in Katılım 100. Investors should re-check holdings each late April and late September.
Why does an app say a BIST stock is not halal when it is in the Katılım index?
Because the app uses a different standard. The index applies the TKBB standard with 33 percent limits measured against total assets; Zoya, Musaffa and Islamicly apply AAOIFI, which uses different ratio bases and thresholds. A company close to a limit can pass one screen and fail the other. Pick the standard you follow and apply it consistently rather than mixing signals from both.
Do the screeners calculate dividend purification for Turkish stocks?
The BIST index lists and Kuveyt Türk Yatırım's page do not publish purification percentages. Musaffa includes a purification calculator and Islamicly offers dividend purification insights, both based on their AAOIFI screens. For BIST holdings you can also estimate the impermissible share from interest income in the company's annual report and donate that proportion of your dividend. Purification is separate from zakat, which is due on the value of the holding.
Compare providers in your region
See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
Is Kuveyt Türk Yatırım's screening the same as Borsa Istanbul's?
It reproduces the exchange's Katılım index framework and constituents on its Katılım Endeksleri page, so for BIST the lists align. The difference is that Kuveyt Türk Yatırım sits under Kuveyt Türk's advisory board and offers trading on the same universe, which makes it convenient for existing Kuveyt Türk customers. It does not cover foreign markets or publish purification figures, so investors with international holdings still need a second tool.
