AKAN
Quality Rating
Akanda Corp. (AKAN), a specialty drug manufacturer focused on cannabis products, faces significant Shariah compliance challenges due to its core business involving intoxicants, deemed haram by most authorities. While debt and liquidity ratios meet thresholds, the interest income ratio exceeds limits, and the business activity disqualifies the company from compliance. Not included in any major Shariah indices, AKAN is classified as non-compliant overall. Purification is required at 100% due to non-permissible revenue sources. Investors should consider alternatives in compliant healthcare subsectors.
Purification Required
Significant purification required - exercise caution
Index Inclusion
Not included in S&P Dow Jones Shariah Indices, MSCI Islamic Indices, FTSE Shariah Indices, or Dow Jones Islamic Market (DJIM)
Key Compliance Considerations
- Core business in cannabis cultivation and distribution (100% revenue from non-permissible activity)
- Interest income ratio: 133.16% (threshold: 5%)
Debt Ratio
0.0%
Liquidity Ratio
0.0%
Interest Income Ratio
1.3%
Purification
100.00%