Academy of Learning says stock compliant with Shariah

30/07/2023 Argaam

Academy of Learning says stock compliant with Shariah

Logo of Academy of Learning Co.

Academy of Learning Co. (AOL) dismissed claims that its business activity is Shariah non-compliant, affirming that its stock is 100% pure based on all operational, financial, investment and financing transactions, as well as the accurate Shariah classifications.

 

In a statement to Tadawul, the company outlined that it operates in education and training, a Shariah-compliant industry.

 

There is no Shariah non-compliant loan, investment, or income, AOL added, noting that all investment deposits are Murabaha deposits with local banks.

 

AOL reiterated its abidance with Islamic Shariah in all operational and financial transactions.

 

Since inception, the company has not entered into any Shariah non-compliant loans, investments or dealings, AOL stressed.

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