AMALY — SHARIAH COMPLIANCE REPORT
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Symbol: SMTK
Report Date: 2026-04-08
Full Report: https://amaly.io/stock/SMTK

EXECUTIVE SUMMARY
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Compliance Status: NON_COMPLIANT
Quality Rating: B
Description: SmartKem, Inc. (SMTK) operates in the Semiconductors industry within the Technology sector, focusing on organic thin-film transistors for flexible electronics. The company's core business activities are permissible under Shariah principles, with no involvement in prohibited sectors. However, financial screening indicates challenges with elevated liquidity and interest income ratios due to low revenue and high other income classification, resulting in non-compliance across standards. Index research confirms exclusion from all major Shariah indices. Overall, while the business model supports compliance, financial restructuring is recommended for future eligibility.

Primary Compliance Concerns:
- Liquidity Ratio: 37.66% exceeds thresholds (AAOIFI: 30%, MSCI: 33.33%, S&P: 33%)
- Interest Income Ratio: 164.63% far exceeds 5% threshold across all standards

Purification Requirement: 164.63%
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: 37.7%
Interest Income Ratio: 164.6%
Purification Required: 0.00%

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: 2025-12-31

REPORTING PERIOD
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Latest Annual Report: FY 2025
Latest Quarterly Data: Q4 2025
Trend Period: FY 2020 to FY 2025
Data Retrieved: 2026-04-02T00:00:00Z

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Full interactive report: https://amaly.io/stock/SMTK
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.