Telecard Limited becomes a Shariah Compliant Company

News Image

By MG News | July 30, 2021 at 10:09 AM GMT+05:00

0:00

July 30, 2021 (MLN): Telecard Limited informed PSX that it is now a Shariah Compliant Company based on the Shariah Compliance Screening conducted by Al-Hilal Shariah Advisors (Pvt.) Limited.

As such the Company has successfully cleared 4 out of 5 shariah screening filters. The Fatwa from Al-Hilal Shariah Advisors (Pvt.) Limited states that:

“We, Al-Hilal Shariah Advisors (Pvt.) Limited, have conducted Shariah Compliance Screening of Telecard Limited based on the financial statements of March 31, 2021.

We have thoroughly analyzed the financial statement on the basis of various Shariah screening criteria issued by our Shariah Supervisory Council. In light of the information provided and our evaluation, we found that the company has passed the 4 out of 5 shariah screening filters while 1 filter i.e., Illiquid Assets to Total Assets ratio is slightly below the desired threshold level.

The Shariah Supervisory Council of Al Hilal Shariah Advisors concluded that the issue of considerable illiquid assets remains a problem for services sector companies since they do not have considerable illiquid assets because of their nature of business and Asset light model and this becomes a hurdle for Shariah compliance clearance for such companies. In this regard, the Shariah Supervisory Council of Al Hilal Shariah Advisors recommends that the illiquid Assets to Total Assets ratio may not be considered while evaluating shariah compliance for such service providing companies given that the company financials meet the other desired criteria.

As per the above statement, the Shariah Board has approved the company to be Shariah Compliant. Hence it is resolved that it is permissible to invest in shares of Telecard Limited.”

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,460.00 110,525.00
107,865.00
-955.00
-0.86%
BRENT CRUDE 67.66 67.96
67.22
-0.64
-0.94%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.85 67.18
65.40
-1.15
-1.72%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 07, 2025 at 06:02 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 05, 2025 at 11:58 PM GMT+05:00

Weekly Market Roundup


July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg