NTCL
Quality Rating
NTCL, a small-cap educational technology company, exhibits strong financial ratio compliance across AAOIFI, MSCI, and S&P standards, with negligible debt (0.47%), low liquidity exposure (2.27%), and minimal interest income (0.19%). Business activities in digital learning solutions are deemed permissible, with no non-compliant revenue streams identified. However, due to its micro-cap status and OTC listing, NTCL is excluded from major Shariah indices, impacting overall compliance classification. Purification is required at 0.19% for incidental interest income. Investors may consider it for direct holdings after scholarly consultation, pending potential growth for index eligibility.
Purification Required
Minimal purification needed for dividend income
Index Inclusion
Not included in any major Shariah indices (S&P, MSCI, FTSE, DJIM)
Key Compliance Considerations
- Exclusion from Shariah indices due to market cap and liquidity thresholds, despite passing financial screens
Debt Ratio
0.0%
Liquidity Ratio
2.3%
Interest Income Ratio
0.0%
Purification
0.19%