Dar Almarkabah says stock Shariah compliant

Logo of Dar Almarkabah for Renting Cars Co.

Dar Almarkabah for Renting Cars Co. said its stock fully complies with Shariah, based on the Shariah standards for companies approved by entities that published the classification, including Shariah committees of Al Rajhi Capital, Albilad Capital and Alinma Investment.

The company also confirmed, in a statement to Tadawul today, Sept. 12, that it operates in a Shariah-compliant industry. There are no Shariah non-compliant loans, investments, or income. All investment deposits are Murabaha deposits with local banks.

Dar Almarkabah reiterated its abidance with Islamic Shariah in all operational and financial transactions. Since inception, the company did not enter into any Shariah non-compliant loans, investments or dealings, it added.

This announcement came under the principle of transparency and diligence that the company follows with its shareholders and the general public regarding all financial and non-financial data that could affect their investment decisions in the company.