At Al Meezan, we are dedicated to providing Shariah compliant investment solutions. In this regard we adhere to the Shariah guidelines as advised by the Shariah Board. The investments are limited to asset classes approved by the Shariah Advisor and all companies under investment consideration are regularly screened for Shariah compliance.
Shariah compliance of stocks is done under the guidance of qualified and reputed Shariah experts. For stocks to be “Shariah Compliant”, it must meet ALL the six key tests given below.
Core business of the company must be halal and in line with the dictates of Shariah. Hence, investment in securities of any company dealing in conventional banking, conventional insurance, alcoholic drinks, tobacco, pork production, arms manufacturing, pornography or related activities is not permissible.
Debt to Asset ratio should be less than 37%. Debt, in this case, is classified as any interest bearing debts. Zero coupon bonds and preference shares are, both, by definition, part of debt.
The ratio of non compliant investments to total assets should be less than 33%. Investment in any non-compliant security shall be included for the calculation of this ratio.
The ratio of non compliant income to total revenue should be less than 5%. Total revenue includes Gross revenue plus any other income earned by the company. This amount is cleansed out as charity as a pro rata ratio of dividends issued by the company.
The ratio of illiquid assets to total assets should be at least 25%. Illiquid asset, here, is defined as any asset that that Shariah permits to be traded at value other than the par.
The market price per share should be greater than the net liquid assets per share calculated as: (Total Assets – Illiquid Assets – Total Liabilities) divided by number of shares.
| No. | Ticker | Company Name | Income Ratio (NCInc/TR < 5%) | Final Shariah Status |
| 1 | AABS | Al-Abbas Sugar Mills Ltd* | 1.43% | Compliant1 |
| 2 | ABOT | Abbott Lab (Pakistan) Ltd * | 0.65% | Compliant |
| 3 | ACPL | Attock Cement Pakistan Ltd | 0.31% | Compliant |
| 4 | ADAMS | Adam Sugar Mills Ltd * | 0.33% | Compliant1 |
| 5 | ADMM | Artistic Denim Mills Ltd | 0.13% | Non-Compliant |
| 6 | AGHA | Agha Steel Ind | 2.86% | Non-Compliant |
| 7 | AGL | Agritech Limited | 4.29% | Non-Compliant |
| 8 | AGP | AGP Limited | 0.43% | Compliant |
| 9 | AGSML | Abdullah Shah Ghazi Sugar Mills * | 0.13% | Compliant1 |
| 10 | AGTL | Al-Ghazi Tractors Ltd | 0.24% | Compliant |
| 11 | AHCL | Arif Habib Corporation Ltd | 19.58% | Non-Compliant |
| 12 | AIRLINK | AirLink Communication Pvt Limited | 0.35% | Compliant |
| 13 | AKDHL | AKD Hospitality Limited (AKD Capital) | 43.80% | Non-Compliant |
| 14 | ALNRS | Al-Noor Sugar Mills Ltd.* | 0.09% | Compliant1 |
| 15 | ALTN | Altern Energy Ltd | 19.11% | Non-Compliant |
| 16 | ANL | Azgard Nine Ltd | 1.29% | Compliant |
| 17 | APL | Attock Petroleum Ltd | 1.94% | Compliant |
| 18 | ARPL | Archroma Pakistan Ltd * | 0.00% | Compliant1 |
| 19 | ASC | Al Shaheer Corporation Ltd | 0.00% | Compliant3 |
| 20 | ASL | Aisha Steel Ltd | 0.03% | Non-Compliant |
| 21 | ASTL | Amreli Steels Ltd | 0.00% | Compliant |
| 22 | ASTM | Asim Textile Mills Ltd | 0.89% | Compliant |
| 23 | ATBA | Atlas Battery Ltd | 0.11% | Compliant |
| 24 | ATLH | Atlas Honda Ltd | 2.81% | Compliant1 |
| 25 | ATRL | Attock Refinery Ltd | 2.84% | Compliant |
| 26 | AVN | Avanceon Limited * | 0.06% | Compliant |
| 27 | BATA | Bata (Pakistan) Ltd | 2.12% | Compliant |
| 28 | BCL | Bolan Castings Ltd | 0.18% | Compliant |
| 29 | BERG | Berger Paints Pakistan Ltd | 0.33% | Compliant |
| 30 | BGL | Balochistan Glass Ltd | 0.01% | Compliant |
| 31 | BIFO | Biafo Industries Ltd | 1.24% | Compliant |
| 32 | BIPL | BankIslami Pakistan Ltd ** | N/A | Compliant |
| 33 | BNL | Bunnys Limited | 0.00% | Compliant |
| 34 | BNWM | Bannu Woollen Mills Ltd | 0.37% | Compliant |
| 35 | BPL | Burshane LPG (Pakistan) Ltd | 0.03% | Compliant |
| 36 | BRRG | B.R.R Guardian Limited | 2.18% | Compliant |
| 37 | BUXL | Buxly Paints Ltd | 0.00% | Compliant |
| 38 | BWHL | Baluchistan Wheels Ltd ^^ | 5.12% | Compliant |
| 39 | CEPB | Century Paper & Board Mills | 0.16% | Compliant |
| 40 | CHAS | Chashma Sugar Mills Ltd* | 0.50% | Non-Compliant1 |
| 41 | CHCC | Cherat Cement Co. Ltd | 0.43% | Compliant |
| 42 | CLOV | Clover Pakistan Ltd ^ | 0.00% | Compliant |
| 43 | CLVL | Cordoba Logistics & Ventures Limited ^^ | 0.78% | Compliant |
| 44 | CNERGY | Cnergyico PK Limited (Byco Petroleum) | 0.32% | Compliant |
| 45 | COLG | Colgate Palmolive (Pakistan) | 3.08% | Non-Compliant |
| 46 | CPHL | Citi Pharma | 3.01% | Compliant |
| 47 | CPPL | Cherat Packaging Ltd | 0.04% | Compliant |
| 48 | CRTM | Crescent Textile Mills Ltd | 0.21% | Compliant |
| 49 | CSAP | Crescent Steel & Allied Products | 4.56% | Compliant |
| 50 | CTM | Colony Textile Mills Ltd | 0.08% | Compliant |
| 51 | DAWH | Dawood Hercules Corporation ^ | 4.72% | Compliant |
| 52 | DCL | Dewan Cement Ltd | 0.11% | Compliant |
| 53 | DCR | Dolmen City REIT | 0.00% | Compliant |
| 54 | DFML | Dewan Farooque Motors Ltd | 60.38% | Non-Compliant |
| 55 | DFSM | Dewan Farooq Spinning Mills Ltd | 0.00% | Compliant |
| 56 | DGKC | D.G. Khan Cement Co. Ltd | 3.75% | Compliant |
| 57 | DNCC | Dandot Cement Co. Ltd | 0.02% | Compliant |
| 58 | DOL | Descon Oxychem Ltd | 1.73% | Compliant |
| 59 | DSIL | DS Industries Ltd | 30.34% | Non-Compliant |
| 60 | DYNO | Dynea Pakistan Ltd | 0.81% | Compliant |
| 61 | EFERT | Engro Fertilizers Ltd * | 1.44% | Compliant |
| 62 | ENGRO | Engro Corporation Ltd * | 3.49% | Compliant |
| 63 | EPCL | Engro Polymer & Chemicals * | 0.37% | Compliant |
| 64 | EPQL | Engro Powergen Qadirpur Ltd * | 5.96% | Non-Compliant |
| 65 | EXIDE | Exide Pakistan Ltd | 0.03% | Compliant1 |
| 66 | FABL | Faysal Bank Ltd** | N/A | Compliant |
| 67 | FATIMA | Fatima Fertilizer Co. Ltd * | 3.53% | Compliant |
| 68 | FCCL | Fauji Cement Co. Ltd | 0.21% | Compliant |
| 69 | FCEPL | Frieslandcampins Engro Foods Limited * | 0.10% | Compliant |
| 70 | FDPL | First Dawood Properties Limited | 33.38% | Non-Compliant |
| 71 | FECTC | Fecto Cement Ltd | 0.14% | Compliant |
| 72 | FEROZ | Ferozsons Laboratories Ltd | 0.34% | Compliant |
| 73 | FFBL | Fauji Fertilizer Bin Qasim Ltd * | 5.94% | Non-Compliant |
| 74 | FFC | Fauji Fertilizer Company Ltd * | 11.14% | Non-Compliant |
| 75 | FFL | Fauji Foods Ltd * | 1.37% | Compliant |
| 76 | FHAM | First Habib Modaraba ** | N/A | Compliant |
| 77 | FLYNG | Flying Cement Co. Ltd | 0.00% | Compliant |
| 78 | FPJM | First Punjab Modaraba ** | N/A | Compliant |
| 79 | FPRM | First Paramount Modaraba ** | N/A | Compliant |
| 80 | GADT | Gadoon Textile Mills Ltd | 0.72% | Non-Compliant |
| 81 | GAL | Ghandhara Automobiles Limited (Ghandhara Nissan Ltd) | 2.03% | Compliant |
| 82 | GCIL | Ghani Chemical Industries Ltd | 6.48% | Non-Compliant |
| 83 | GFIL | Ghazi Fabrics International Ltd | 0.01% | Compliant |
| 84 | GGGL | Ghani Global Glass Ltd | 0.25% | Compliant |
| 85 | GGL | Ghani Global Holdings Limited | 1.48% | Compliant |
| 86 | GHGL | Ghani Glass Ltd | 0.00% | Compliant |
| 87 | GHNI | Ghandhara Industries Ltd | 0.68% | Compliant |
| 88 | GLAXO | GlaxoSmithKline Pakistan | 0.51% | Compliant |
| 89 | GLPL | Gillette Pakistan Ltd | 5.12% | Non-Compliant |
| 90 | GTYR | General Tyre & Rubber Co. | 0.01% | Compliant |
| 91 | GVGL | Ghani Value Glass Ltd | 0.27% | Compliant |
| 92 | GWLC | Gharibwal Cement Ltd | 1.41% | Compliant |
| 93 | HABSM | Habib Sugar Mills Ltd * | 7.07% | Non-Compliant1 |
| 94 | HAEL | Hala Enterprises Ltd | 0.29% | Compliant |
| 95 | HALEON | Haleon Pakistan Limited * | 2.11% | Compliant |
| 96 | HCAR | Honda Atlas Cars (Pakistan) Ltd | 2.26% | Compliant1 |
| 97 | HINO | Hinopak Motors Ltd | 0.21% | Compliant1 |
| 98 | HINOON | Highnoon Laboratories Ltd * | 1.36% | Compliant |
| 99 | HTL | Hi-Tech Lubricants Ltd | 0.25% | Compliant |
| 100 | HUBC | Hub Power Company Ltd # | 8.18% | Compliant |
| 101 | IBLHL | IBL HealthCare Ltd | 0.00% | Compliant |
| 102 | ICL | Ittehad Chemicals Ltd | 0.01% | Compliant |
| 103 | IDYM | Indus Dyeing & Mfg Co. Ltd | 0.07% | Non-Compliant |
| 104 | ILP | Interloop Limited | 0.35% | Compliant |
| 105 | IMAGE | Image Pakistan | 0.01% | Compliant |
| 106 | INDU | Indus Motor Company Ltd | 4.73% | Non-Compliant |
| 107 | INIL | International Industries Ltd | 0.35% | Compliant |
| 108 | ISL | International Steels Ltd | 0.35% | Compliant |
| 109 | ITTEFAQ | Ittefaq Iron Industries | 0.66% | Compliant |
| 110 | JSML | Jauharabad Sugar Mills Ltd * | 0.21% | Compliant1 |
| 111 | JVDC | Javedan Corporation Ltd | 0.57% | Compliant |
| 112 | KAPCO | Kot Addu Power Company | 99.02% | Non-Compliant |
| 113 | KEL | K-Electric Ltd | 0.77% | Compliant |
| 114 | KOHC | Kohat Cement Co. Ltd | 3.65% | Compliant |
| 115 | KOHP | Kohinoor Power Company | 11.84% | Non-Compliant |
| 116 | KOSM | Kohinoor Spinning Mills Ltd | 0.11% | Non-Compliant |
| 117 | KSBP | K.S.B.Pumps Company Ltd * | 0.14% | Compliant |
| 118 | KTML | Kohinoor Textile Mills Ltd | 0.45% | Compliant |
| 119 | LCI | Lucky Core Industries Limited | 0.26% | Compliant |
| 120 | LEUL | Leather-Up Limited | 0.00% | Compliant |
| 121 | LOADS | Loads Limited | 0.04% | Non-Compliant |
| 122 | LOTCHEM | Lotte Chemical Pakistan Ltd * | 0.71% | Compliant |
| 123 | LPGL | Leiner Pak Gelatine Ltd | 0.00% | Compliant |
| 124 | LUCK | Lucky Cement Ltd | 1.10% | Compliant |
| 125 | MACFL | MACPAC Films Ltd | 1.23% | Compliant |
| 126 | MARI | Mari Petroleum Co. Ltd | 4.37% | Compliant |
| 127 | MEBL | Meezan Bank Ltd ** | N/A | Compliant |
| 128 | MERIT | Merit Packaging Ltd | 0.03% | Compliant |
| 129 | MFFL | Mitchell’s Fruit Farms Ltd | 0.11% | Compliant |
| 130 | MFL | Matco Foods Ltd | 0.08% | Non-Compliant |
| 131 | MIRKS | Mirpurkhas Sugar Mills Ltd * | 0.00% | Non-Compliant1 |
| 132 | MLCF | Maple Leaf Cement Factory | 0.31% | Compliant |
| 133 | MRNS | Mehran Sugar Mills Ltd * | 0.92% | Non-Compliant1 |
| 134 | MTL | Millat Tractors Ltd | 0.40% | Compliant |
| 135 | MUGHAL | Mughal Iron & Steel Industries | 0.15% | Compliant |
| 136 | NATF | National Foods Ltd ^^ | 0.09% | Compliant |
| 137 | NCL | Nishat (Chunian) Ltd | 0.16% | Non-Compliant |
| 138 | NCPL | Nishat Chunian Power Ltd | 15.54% | Non-Compliant |
| 139 | NETSOL | NetSol Technologies Ltd ## | 0.37% | Compliant |
| 140 | NICL | Nimir Industrial Chemicals Ltd | 0.00% | Non-Compliant |
| 141 | NML | Nishat Mills Ltd | 2.37% | Compliant |
| 142 | NPL | Nishat Power Limited | 11.93% | Non-Compliant |
| 143 | NRL | National Refinery Ltd | 0.06% | Compliant |
| 144 | NRSL | Nimir Resins Ltd | 0.00% | Compliant |
| 145 | OBOY | Oilboy Energy Limited (Drekkar Kingsway Ltd) | 1.95% | Compliant |
| 146 | OCTOPUS | Octopus Digital Pvt Ltd ## | 0.01% | Compliant |
| 147 | OGDC | Oil & Gas Development Co. Ltd ^ # | 11.68% | Compliant |
| 148 | OLPM | OLP Modaraba (Orix Modaraba) ** | N/A | Compliant |
| 149 | OTSU | Otsuka Pakistan Ltd. | 0.65% | Non-Compliant |
| 150 | PABC | Pakistan Aluminium Beverage Cans Ltd * ^^ | 5.18% | Compliant |
| 151 | PACE | Pace (Pakistan) Ltd | 1.42% | Non-Compliant |
| 152 | PAEL | Pak Elektron Ltd * | 0.00% | Compliant |
| 153 | PAKD | Pak DataCom Ltd * ## | 2.08% | Compliant |
| 154 | PAKOXY | Pakistan Oxygen Limited | 0.50% | Compliant |
| 155 | PCAL | Pakistan Cables Ltd | 0.26% | Non-Compliant |
| 156 | PHDL | Pakistan Hotels Developers Ltd | 18.55% | Non-Compliant |
| 157 | PIBTL | Pakistan International Bulk Terminal Ltd | 0.98% | Compliant |
| 158 | PICT | Pakistan International Container Terminal * | 99.86% | Non-Compliant |
| 159 | PIOC | Pioneer Cement Ltd | 0.44% | Compliant |
| 160 | PKGP | Pakgen Power Ltd | 25.85% | Non-Compliant |
| 161 | PKGS | Packages Limited * | 0.18% | Compliant |
| 162 | PMI | First Prudential Modaraba ** | N/A | Compliant |
| 163 | PNSC | Pakistan National Shipping Corporation | 12.36% | Non-Compliant |
| 164 | POL | Pakistan Oilfields Ltd | 18.43% | Non-Compliant |
| 165 | POML | Punjab Oil Mills Ltd. | 0.37% | Compliant |
| 166 | POWER | Power Cement Ltd | 0.00% | Compliant |
| 167 | PPL | Pakistan Petroleum Limited ^ | 4.02% | Compliant |
| 168 | PPP | Pakistan paper products Ltd. | 0.00% | Compliant |
| 169 | PREMA | At-Tahur Limited | 0.01% | Compliant |
| 170 | PRL | Pakistan Refinery Ltd | 1.03% | Compliant |
| 171 | PSO | Pakistan State Oil Co. Ltd | 0.51% | Compliant |
| 172 | PSX | Pakistan Stock Exchange Ltd. | 39.02% | Non-Compliant |
| 173 | PSYL | Pakistan Synthetics Ltd. | 0.01% | Compliant |
| 174 | PTC | Pakistan Telecommunication (PTCL) | 4.20% | Non-Compliant |
| 175 | PTL | Panther Tyres Limited | 0.02% | Compliant |
| 176 | QUICE | Quice Food Industries Ltd | 0.19% | Compliant |
| 177 | RPL | Roshan Packages Ltd | 0.50% | Compliant |
| 178 | RUPL | Rupali Polyester Ltd. | 0.13% | Compliant |
| 179 | SAIF | Saif Textile Mills Ltd | 0.01% | Non-Compliant |
| 180 | SASML | Sindh Abadgar’s Sugar Mills Ltd.* | 0.51% | Compliant1 |
| 181 | SAZEW | Sazgar Engineering Works | 0.02% | Compliant |
| 182 | SEARL | Searle Company Ltd | 0.08% | Compliant |
| 183 | SEPL | Security Papers Ltd | 10.33% | Non-Compliant |
| 184 | SGF | Service Global Footwear Limited * | 3.60% | Compliant |
| 185 | SGPL | SG Power Ltd *** | 0.00% | No Opinion |
| 186 | SHEL | Shell (Pakistan) Ltd * | 0.19% | Compliant |
| 187 | SHEZ | Shezan International Ltd. | 0.01% | Compliant |
| 188 | SHFA | Shifa International Hospitals | 0.65% | Compliant |
| 189 | SHSML | Shahmurad Sugar Mills Ltd * | 0.93% | Compliant1 |
| 190 | SIEM | Siemens (Pakistan) Engineering * | 0.05% | Non-Compliant1 |
| 191 | SMCPL | Safe Mix Concrete Ltd | 0.21% | Compliant |
| 192 | SNGP | Sui Northern Gas Pipelines Ltd ^ | 1.72% | Compliant3 |
| 193 | SPEL | Synthetic Products Ltd | 0.97% | Compliant |
| 194 | SPWL | Saif Power Ltd *** | 3.09% | No Opinion |
| 195 | SRVI | Service Industries Ltd * | 0.09% | Non-Compliant |
| 196 | SSGC | Sui Southern Gas Co. Ltd ^ | 0.86% | Compliant3 |
| 197 | STCL | Shabbir Tiles & Ceramics Ltd | 0.58% | Compliant |
| 198 | STPL | Siddiqsons Tin Plate Ltd* | 0.56% | Non-Compliant3 |
| 199 | SYM | Symmetry Group Limited | 1.43% | Compliant |
| 200 | SYS | Systems Limited * | 0.43% | Compliant |
| 201 | TCORP | Tariq Corporation Ltd | 0.00% | Compliant |
| 202 | TELE | Telecard Limited ## | 0.23% | Compliant |
| 203 | TGL | Tariq Glass Industries Ltd | 0.16% | Compliant |
| 204 | THALL | Thal Limited | 10.11% | Non-Compliant |
| 205 | THCCL | Thatta Cement Company | 4.66% | Compliant |
| 206 | TOMCL | The Organic Meat Company | 0.15% | Compliant |
| 207 | TOWL | Towellers Limited | 1.23% | Compliant |
| 208 | TPL | TPL Corporation | 39.28% | Non-Compliant |
| 209 | TPLP | TPL Properties Ltd | 1.83% | Compliant |
| 210 | TPLT | TPL Trakker Ltd | 3.39% | Compliant |
| 211 | TREET | Treet Corporation Ltd | 0.50% | Compliant |
| 212 | TRG | TRG Pakistan Ltd | 100.00% | Non-Compliant |
| 213 | TRIPF | Tri-Pack Films Ltd | 0.25% | Non-Compliant |
| 214 | TSPL | Tri-Star Power Ltd. | 57.64% | Non-Compliant |
| 215 | UBDL | United Brands Limited | 0.27% | Compliant |
| 216 | UCAPM | Unicap Modaraba ** | N/A | Compliant3 |
| 217 | UNITY | Unity Foods Ltd ^^ | 0.97% | Compliant |
| 218 | WAHN | Wah-Noble Chemicals Ltd | 0.40% | Compliant |
| 219 | WAVES | Waves Corporation Limited * | 0.07% | Compliant |
| 220 | WAVESAPP | Waves Home Appliances Limited * | 0.20% | Compliant |
| 221 | WTL | WorldCall Telecom Ltd * | 3.67% | Non-Compliant |
| 222 | YOUW | Yousaf Weaving Mills Ltd | 0.00% | Compliant |
| 223 | AGIC | Askari General insurance Co. | N/A | NC by Nature |
| 224 | AICL | Adamjee Insurance Co. Ltd. | N/A | NC by Nature |
| 225 | ALIFE | Adamjee Life Assurance Company Limited | N/A | NC by Nature |
| 226 | ATIL | Atlas insurance Ltd. | N/A | NC by Nature |
| 227 | BML | Bank Makramah Limited | N/A | NC by Nature |
| 228 | CSIL | Crescent Star insurance Ltd. | N/A | NC by Nature |
| 229 | CYAN | Cyan Limited | N/A | NC by Nature |
| 230 | DEL | Dawood Equities Ltd | N/A | NC by Nature |
| 231 | ESBL | Escorts Investment Bank Ltd | N/A | NC by Nature |
| 232 | FCSC | First Capital Securities Corp. Ltd | N/A | NC by Nature |
| 233 | FNEL | First National Equities Ltd | N/A | NC by Nature |
| 234 | GRR | Globe Residency REIT | N/A | NC by Nature |
| 235 | ICIBL | Invest Capital Investment Bank | N/A | NC by Nature |
| 236 | IGIHL | IGI Holdings Ltd | N/A | NC by Nature |
| 237 | IGIL | IGI Life Insurance Ltd | N/A | NC by Nature |
| 238 | JGICL | Jubilee General insurance Co. | N/A | NC by Nature |
| 239 | JLICL | Jubilee Life Insurance Co. | N/A | NC by Nature |
| 240 | JSCL | Jahangir Siddiqui & Co. Ltd | N/A | NC by Nature |
| 241 | JSIL | JS Investments Ltd | N/A | NC by Nature |
| 242 | LSEVL | LSE Venture Limited | N/A | NC by Nature |
| 243 | MCBIM | MCB Investment Management Limited | N/A | NC by Nature |
| 244 | MDTL | Media Times Ltd | N/A | NC by Nature |
| 245 | NEXT | Next Capital Limited | N/A | NC by Nature |
| 246 | OLPL | OLP Financial Services private Limited | N/A | NC by Nature |
| 247 | PAKRI | Pakistan Reinsurance Co. Ltd. | N/A | NC by Nature |
| 248 | SHNI | Shaheen Insurance Co. Ltd. | N/A | NC by Nature |
| 249 | TPLI | TPL Insurance Ltd | N/A | NC by Nature |
| 250 | UNIC | United Insurance Co. of Pakistan | N/A | NC by Nature |
NOTE: The above criteria of KMI Index is approved by Sharia’h Supervisory Board of KMI Index Partner, MBL.
NC= Non – Compliant
N/A = Not Applicable
* These are provisional rates for dividend purification, which are subject to final adjustment upon announcement of respective companies’ annual accounts for the year 2024/2025
** Only illiquid Assets to Total Assets and Net Liquid Asset ratios calculated of all Islamic Financial Institutions
*** As breakup of Late Payment Interest is not given in financial therefore, company(s) is classified as No Opinion.
# Due to circular debt and high interest rate which resulting in higher delayed payment charges, OGDC and HUBC is exceeding the threshold of Non compliant income ratio. Therefore, exception is given over income ratio.
## As these are from service based sector, therefore their fixed assets are not significant in value therefore, these are considered as Compliant and relaxation provided over Illiquid assets to Total Assets ratio and Net Liquid Asset per share.
^ These are considered as Compliant and relaxation is provided over illiquid assets to Total Assets ratio and/or Net Liquid Asset per share as per the guidance available in AAOIFI’s Shariah standard no. 59, Sale of Debt.
^^ As debt / income ratio is exceeding slightly therefore considered as Compliant
