Is Kuwait Projects Company Holding (KPROJ.KW) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. Kuwait Projects Company Holding (KPROJ.KW) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (Yahoo industry “Banks - Regional”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 2 October 2026.
Kuwait Projects Company Holding is not compliant under Halal / Islamic guidelines
AAOIFI Shari’ah Standard 21 Financial Audit
Figures from the latest annual report (the SEC filing or, for European companies, the ESEF annual report, where one exists, checked against Yahoo Finance) and a 36-month average market value.
| Test | Standard Limit | Actual Figure | Status |
|---|---|---|---|
| Main business | — | — | Fail |
| Interest-bearing debt | 30% | 2811.05% | Review |
| Cash and interest-bearing investments | 30% | 555.17% | Fail |
| Prohibited income | 5% | — | Review |
| Not just cash and debts | 90% | 39.49% | Pass |
Key Findings & Observations
- Its main business is conventional banking, lending or insurance (Yahoo industry “Banks - Regional”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1).Source: Business check
- The interest-bearing debt test couldn’t be settled: Only an upper estimate is available, and it is over the limit. No debt figure was reported, so total liabilities are used as an upper bound.Source: AAOIFI Shari'ah Standard 21
- Cash and interest-bearing investments are 555.2% of the company’s 36-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/3).Source: AAOIFI Shari'ah Standard 21
- The prohibited income test couldn’t be settled: Yahoo reports interest income of KWD 793.3M, more than the company’s cash, investments and receivables could earn at 10% (KWD 545.6M), so that figure was set aside. So the income test can’t be settled.Source: AAOIFI Shari'ah Standard 21
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Frequently Asked Questions about Kuwait Projects Company Holding K.S.C.P. (KPROJ.KW)
Is Kuwait Projects Company Holding (KPROJ.KW) stock halal?▾
No. Kuwait Projects Company Holding (KPROJ.KW) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (Yahoo industry “Banks - Regional”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 2 October 2026.
What is Kuwait Projects Company Holding's debt ratio under Islamic finance standards?▾
Under AAOIFI Shari’ah Standard 21, interest-bearing debt must stay under 30% of a company's 36-month average market value. Kuwait Projects Company Holding's ratio is at most 2811.0%.
How much dividend purification is required for Kuwait Projects Company Holding (KPROJ.KW) stock?▾
Kuwait Projects Company Holding does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does Kuwait Projects Company Holding operate in prohibited business activities?▾
AAOIFI Shari’ah Standard 21 excludes companies whose main business is prohibited, such as alcohol, pork, gambling, conventional interest-based finance and adult entertainment. Kuwait Projects Company Holding's main business is checked against these. For companies that file with the US SEC, revenue by division is also read from the filing, so a division in a prohibited business is counted. Where the check cannot be settled, the result is shown as Needs Review rather than guessed.
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