Canadian Medical Center confirms Shariah compliance

Logo of Canadian Medical Center Co.

Canadian Medical Center Co. (CMCER) denied a claim classifying its stock as being not Shariah-compliant, affirming that its stock is 100% Islamic, based on all its operational, financial, investment, and financing transactions, as per recognized Shariah standards, which strive for accuracy in classification. 

In a statement on Tadawul, the company said that for further transparency and clarification, it affirms that it operates in the medical sector, which is a permissible and non-forbidden field. 

CMCER does not have any prohibited loans, investments, or earnings. All the company's investment deposits are Islamic profit-sharing deposits with local banks, it added. 

In its statement, the company affirmed its readiness and full commitment to provide all necessary documents to any entity in need of verifying the legitimacy of its transactions. 

Meanwhile, CMCER confirmed and reassured its shareholders that it seeks to follow Shariah standards in all its operational and financial transactions. The company did not, since its inception, undertake any loans, investments or transactions that are not Shariah compliant.