HDST – HedgeStone investment
HedgeStone investment is not Shariah Compliant because of its involvement in Private Equity and related activities.
Result: Not Compliant
CTSB – City Trade Securities and Brokerage SAE
City Trade Securities and Brokerage SAE is not Shariah Compliant because of its involvement in Brokerage Services and related activities.
MTNN – MTN Nigeria Communications PLC
MTN Nigeria Communications PLC is not Shariah Compliant because it fails the financial ratios.
AETEC – Advanced Technologi A eTech SA
Advanced Technologi A eTech SA is not Shariah Compliant because it fails the financial ratios.
HAVC – Hassan Allam Investments & Venture Capital SAE
Hassan Allam Investments & Venture Capital SAE is not Shariah Compliant because of its involvement in Shell Companies and related activities.
SPHAX – Syphax Airlines SA
Syphax Airlines SA is not Shariah Compliant because it fails the financial ratios.
UTOP – Utopia Real Estate Investment and Tourism SAE
Utopia Real Estate Investment and Tourism SAE is not Shariah Compliant because it fails the financial ratios.
UASG – United Arab Stevedoring Co SAE
United Arab Stevedoring Co SAE is not Shariah Compliant because it fails the financial ratios.
BIGP – Barbary Investment Group SAE
Barbary Investment Group SAE is not Shariah Compliant because of its involvement in Private Equity and related activities.
RKAZ – REKAZ Financial Holding
REKAZ Financial Holding is not Shariah Compliant because it fails the financial ratios.