AMALY — SHARIAH COMPLIANCE REPORT
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Symbol: NTCL
Report Date: 2026-04-02
Full Report: https://amaly.io/stock/NTCL

EXECUTIVE SUMMARY
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Compliance Status: NON_COMPLIANT
Quality Rating: BB
Description: 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.

Primary Compliance Concerns:
- Exclusion from Shariah indices due to market cap and liquidity thresholds, despite passing financial screens

Purification Requirement: 0.19%
Index Inclusion: Not included in any major Shariah indices (S&P, MSCI, FTSE, DJIM)

KEY FINANCIAL METRICS
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Debt Ratio: 0.0%
Liquidity Ratio: 2.3%
Interest Income Ratio: 0.0%
Purification Required: 0.19%

INDEX INCLUSION STATUS
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S&P Shariah: EXCLUDED
MSCI Islamic: EXCLUDED
DJIM: EXCLUDED
FTSE Shariah: EXCLUDED
Total: 0 of 4
Last Verified: 2025-11-30

REPORTING PERIOD
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Latest Annual Report: FY 2025
Latest Quarterly Data: Q3 2025
Trend Period: FY 2020 to FY 2025
Data Retrieved: 2026-02-26T12:00:00Z

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Full interactive report: https://amaly.io/stock/NTCL
Provided by Amaly (https://amaly.io) — Shariah Compliant Stock Screener
Disclaimer: This data is for informational purposes only and does not constitute financial or religious advice.