Is Modern Times Group MTG (MTG-B.ST) stock halal?
Screened against AAOIFI Shari’ah Standard 21
Not settled. Modern Times Group MTG (MTG-B.ST) could not be confirmed either way under the AAOIFI Shari’ah Standard 21 screen. The interest-bearing debt test couldn’t be settled: The figures give 28.3% and 30.4%, on either side of the limit. Includes lease liabilities that may be ordinary rent, which AAOIFI does not count as borrowing. We show this as Needs Review rather than guess. Last checked 2 October 2026.
Modern Times Group MTG needs further review 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 | — | — | Pass |
| Interest-bearing debt | 30% | 30.39% | Review |
| Cash and interest-bearing investments | 30% | 9.99% | Pass |
| Prohibited income | 5% | 0.35% | Pass |
| Not just cash and debts | 90% | 10.87% | Pass |
Key Findings & Observations
- The interest-bearing debt test couldn’t be settled: The figures give 28.3% and 30.4%, on either side of the limit. Includes lease liabilities that may be ordinary rent, which AAOIFI does not count as borrowing.Source: AAOIFI Shari'ah Standard 21
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Frequently Asked Questions about Modern Times Group MTG AB (MTG-B.ST)
Is Modern Times Group MTG (MTG-B.ST) stock halal?▾
Not settled. Modern Times Group MTG (MTG-B.ST) could not be confirmed either way under the AAOIFI Shari’ah Standard 21 screen. The interest-bearing debt test couldn’t be settled: The figures give 28.3% and 30.4%, on either side of the limit. Includes lease liabilities that may be ordinary rent, which AAOIFI does not count as borrowing. We show this as Needs Review rather than guess. Last checked 2 October 2026.
What is Modern Times Group MTG'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. Modern Times Group MTG's ratio is about 30.4%.
How much dividend purification is required for Modern Times Group MTG (MTG-B.ST) stock?▾
Under AAOIFI Shari’ah Standard 21, shareholders should give away the part of their income that comes from prohibited sources: SEK 0.337 per share for the latest financial year. The amount goes to charity, without counting it as one's own donation.
Does Modern Times Group MTG 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. Modern Times Group MTG'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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