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Shariah Guidelines
Musharaka is committed to providing investment solutions that comply with the principles of Islamic Sharia by applying Sharia guidelines in its investment and equity trading activities. The company has appointed a specialized Sharia supervisory authority to determine the permissibility of trading in the shares of listed companies.
Sharia Classification of Companies
List of Sharia Compliant and Non-Compliant Companies for Q3-2025
2100
Wafrah for Industry and Development Company SJSC
1213
نسيج
1320
أنابيب السعودية ( Purification change: 2.60%)
1830
لجام للرياضة ( Purification change: 0.03%)
1320
أنابيب السعودية ( Purification change: 2.60%)
1830
لجام للرياضة ( Purification change: 0.03%)
1213
نسيج
1211
Saudi Arabian Mining Company SJSC ( Purification change: 3.72%)
2382
ADES Holding Company Listed JSC
2380
Rabigh Refining and Petrochemical Company SJSC
4083
United International Holding Company SJSC
4050
Saudi Automotive Services Co SJSC
4338
SNB Capital Fund of REITs Fund
3091
Al Jouf Cement Company SJSC
1833
Al Mawarid Manpower Company SCJSC
1810
Seera Holding Group SJSC
8160
Arabia Insurance Cooperative Company SJSC
2281
Tanmiah Food Company SJSC
1835
Tamkeen Human Resources Co
3007
Zahrat Al Waha for Trading Company SJSC
2290
Yanbu National Petrochemical Company Yansab Sjsc
3003
City Cement Company CJSC
6002
Herfy Food Services Company SJSC
6040
Tabuk Agricultural Development Co SJSC
2320
البابطين
2300
Saudi Paper Manufacturing Company SJSC
4146
Gas Arabian Services Company SJSC
2320
البابطين
4310
Knowledge Economic City Company SJSC
6090
Jazan Development and Investment Company SJSC
4021
Canadian General Medical Center
4031
Saudi Ground Services Company SJSC ( Purification change: 4.69%)
7201
Arab Sea Information Systems Company SJSC
4291
National Company for Learning and Education SJSC ( Purification change: 0.00%)
1214
Al Hassan Ghazi Ibrahim Shaker Company SJSC
4270
Saudi Printing and Packaging Company SJSC
1831
Maharah for Human Resources Company SJSC
2190
Sustained Infrastructure Holding Company SJSC
4016
Middle East Pharmaceutical Industries Company SJSC
4323
Sumou Real Estate Company SJSC
1182
Amlak International Finance Company SJSC
4350
Alistithmar AREIC Diversified REIT Fund
2230
Saudi Chemical Holding Company SJSC
6014
Alamar Foods Company SJSC
4004
Dallah Healthcare Company SJSC
4140
Saudi Industrial Export Company SJSC
4170
Tourism Enterprise Company (Shams) SJSC ( Purification change: 6.89%)
4345
Alinma Retail REIT Fund
1322
Al Masane Al Kobra Mining Company CJSC
2130
Saudi Industrial Development Company SJSC
6016
Shatirah House Restaurant Co
2270
Saudia Dairy & Foodstuff Company SJSC
4164
Al Nahdi Medical Company SJSC
4014
Scientific and Medical Equipment House Company CJSC ( Purification change: 0.58%)
1183
SHL Finance Company SJSC
4230
Red Sea International Company SJSC
2060
National Industrialization Company SJSC
4003
United Electronics Company JSC
4320
Al-Andalus Property Company SJSC
2080
National Gas and Industrialization Company SJSC
4100
Makkah Construction and Development Company SJSC ( Purification change: 6.36%)
4292
Ataa Educational Company SJSC ( Purification change: 0.76%)
4163
Al-Dawaa Medical Services Co
4017
Dr Soliman Abdel Kader Fakeeh Hospital Company SCJSC
8313
Rasan Information Technology Company SCJSC
4260
United International Transportation Company SJSC
4261
Theeb Rent a Car Company SJSC
2180
Filing and Packing Materials Manufacturing Co SJSC
3010
Arabian Cement Company SJSC
3004
Northern Region Cement Company SJSC
4143
Al Taiseer Group TALCO Industrial Company SCJSC
6010
National Agricultural Development Company SJSC
3050
Southern Province Cement Company SJSC
1202
Middle East Company for Manufacturing and Producing Paper SJSC
2370
Middle East Specialized Cables Company SJSC
1834
Saudi Manpower Solutions Company SCJSC
4300
Dar Al Arkan Real Estate Development Company SJSC
7204
Perfect Presentation for Commercial Services Company SJSC
1210
Basic Chemical Industries Company SJSC
2285
Arabian Mills for Food Products Company SCJSC
2340
ARTEX Industrial Investment Co
7030
Mobile Telecommunications Company Saudi Arabia SJSC
3005
Umm Al Qura Cement Company SJSC
4008
Saudi Company for Hardware SJSC
4001
Abdullah Al-Othaim Markets Company SJSC
2287
Arabian Company for Agricultural and Industrial Investment SCJSC
2284
Modern Mills Company SJSC
4263
SAL Saudi Logistics Services Company SJSC
2240
Zamil Industrial Investment Company SJSC
8210
Bupa Arabia for Cooperative Insurance Company SJSC
4290
Al Khaleej Training and Education Company SJSC
4018
الموسى ( Purification change: 2.48%)
2020
SABIC ( Purification change: 32.79%)
4321
Arabian Centres Company SJSC ( Purification change: 1.75%)
6017
Jahez International Company for Information Systems Technology SCJSC
4018
الموسى ( Purification change: 2.48%)
3092
أسمنت الرياض ( Purification change: 0.90%)
1321
East Pipes Integrated Company for Industry CJSC
2050
Savola Group Company SJSC
4145
Obeikan Glass Company SJSC
4322
Retal Urban Development Company SJSC
3092
أسمنت الرياض ( Purification change: 0.90%)
2170
Alujain Corp
4019
Specialized Medical Company SCJSC
2282
Naqi Water Co
2220
National Metal Manufacturing and Casting MAADANIYYAT SJSC Co
4210
Saudi Research and Media Group SJSC
4015
Jamjoom Pharmaceuticals Factory Company SJSC
8010
Company for Cooperative Insurance SJSC
4018
Almoosa Health Company CJSC ( Purification change: 2.48%)
4165
Al Majed for Oud Company SJSC
4030
National Shipping Company of Saudi Arabia SJSC
4012
Thob Al Aseel Company SJSC
3092
Riyadh Cement Company SJSC ( Purification change: 0.90%)
4005
National Medical Care Company SJSC
4084
Derayah Financial CJSC
2001
Methanol Chemicals Company SJSC
1820
BAAN Holding Group Company SJSC
4061
Anaam International Holding Group Company SJSC
4161
BinDawood Holding Company SJSC
4141
العمران
2223
Saudi Aramco Base Oil Company - Luberef SJSC
4220
Emaar The Economic City SJSC
6013
Development Works Food Co CJSC
3008
Al Kathiri Holding Company SJSC ( Purification change: 0.00%)
8240
CHUBB Arabia Cooperative Insurance Company SJSC
4141
العمران
8150
Allied Cooperative Insurance Group SJSC
8180
Al Sagr Cooperative Insurance Company Sjsc
2360
Saudi Vitrified Clay Pipes Company SJSC
4141
Al-Omran Industrial and Trading Co CJSC
6012
Raydan Food Company SJSC
4070
Tihama for Advertising Public Relations and Marketing Company SJSC
4337
SICO Saudi REIT Fund
8200
Saudi Reinsurance Company SJSC
8250
Gulf Insurance Group SJSC
8040
Mutakamela Insurance Co
8270
Buruj Cooperative Insurance Co SJSC
8280
Liva Insurance Company SJSC
8100
Saudi Arabian Cooperative Insurance Company SJSC
8310
Amana Cooperative Insurance Company SJSC
8190
United Cooperative Assurance Company SJSC
4330
Riyad REIT
8120
Gulf Union Alahlia Cooperative Insurance Company SJSC ( Purification change: 18.21%)
8030
Mediterranean and Gulf Cooperative Insurance and Reinsurance Company SJSC
4110
Batic Investments and Logistics Comapny SJSC
8280
Liva Insurance Company SJSC
8100
Saudi Arabian Cooperative Insurance Company SJSC
4336
MULKIA REIT
8020
Malath Cooperative Insurance Company Sjsc
8260
GULF GENERAL
4040
Saudi Public Transport Company SJSC
4160
Thimar Development Holding Company SJSC
4100
مكة ( Purification change: 6.36%)
8180
Al Sagr Cooperative Insurance Company Sjsc
2360
Saudi Vitrified Clay Pipes Company SJSC
4141
Al-Omran Industrial and Trading Co CJSC
6012
Raydan Food Company SJSC
8311
Saudi Enaya Cooperative Insurance Company SJSC
4703
SEDCO Capital Multi Asset Traded Fund
4100
مكة ( Purification change: 6.36%)
4340
Al Rajhi REIT Fund
8060
Walaa Cooperative Insurance Company SJSC
4150
Arriyadh Development Company SJSC
4342
Jadwa REIT Saudi Fund
4347
Bonyan REIT Fund
4081
Nayifat Finance Co
4344
SEDCO Capital REIT Fund
1213
Naseej International Trading Company SJSC
4082
Morabaha Marina Financing Company SCJSC ( Purification change: 0.88%)
4701
Alkhabeer Growth & Income Traded Fund
4070
Tihama for Advertising Public Relations and Marketing Company SJSC
4339
Derayah REIT Fund
4334
Al Maather REIT Fund
8050
Salama Cooperative Insurance Company SJSC
4332
Jadwa REIT Al Haramain Fund
4346
MEFIC REIT Fund
4337
SICO Saudi REIT Fund
8200
Saudi Reinsurance Company SJSC
6040
تبوك الزراعية
6040
تبوك الزراعية
8250
Gulf Insurance Group SJSC
8040
Mutakamela Insurance Co
8270
Buruj Cooperative Insurance Co SJSC
8280
Liva Insurance Company SJSC
8100
Saudi Arabian Cooperative Insurance Company SJSC
8190
United Cooperative Assurance Company SJSC
4330
Riyad REIT
8120
Gulf Union Alahlia Cooperative Insurance Company SJSC ( Purification change: 18.21%)
8280
Liva Insurance Company SJSC
9510
NBM
9513
WATANI STEEL
9514
ALNAQOOL
9515
FESH FASH
9516
NGDC
9517
MOBI INDUSTRY
9521
INMAR
9522
ALHASOOB
9523
GROUP FIVE
9524
AICTEC
9525
ALWASAIL INDUSTRIAL
9545
ALDAWLIAH
9546
NABA ALSAHA
9547
RAWASI
9548
APICO
9549
ALBABTAIN FOOD
9550
SURE
9551
KNOWLEDGE TOWER
9552
SAUDI TOP
9553
MOLAN
9555
LEEN ALKHAIR
9556
NOFOTH
9557
EDARAT
9558
ALQEMAM
9559
BALADY
9560
WAJA
9561
KNOWLEDGENET
9562
FOOD GATE
9563
BENA
9564
HORIZON FOOD
9565
MEYAR
9566
LIME INDUSTRIES
9567
GHIDA ALSULTAN
9568
MAYAR
9569
ALMUNEEF
9570
TAM DEVELOPMENT
9571
MUNAWLA
9572
ALRAZI
9574
PRO MEDEX
9575
MARBLE DESIGN
9576
PAPER HOME
9577
DAR ALMARKABAH
9578
ATLAS ELEVATORS
9579
IOUD
9580
ALRASHID INDUSTRIAL
9581
CLEAN LIFE
9583
UNITED MINING
9584
RIYAL
9585
MULKIA
9587
LANA
9588
RIYADH STEEL
9589
FAD
9590
ARMAH
9591
VIEW
9592
ALMUJTAMA MEDICAL
9593
PAN GULF
9594
ALMODAWAT
9595
WSM
9596
QUARA
9597
LEAF
9598
ALMOHAFAZA FOR EDUCATION
9599
TAQAT
9600
QOMEL
9601
ALRASHEED
9603
HORIZON EDUCATIONAL
9604
MIRAL
9605
NEFT ALSHARQ
9606
THARWAH
9607
ASG
9608
ALASHGHAL ALMOYSRA
9609
NAAS PETROL ( Purification change: 2.32%)
9610
FIRST AVENUE
9611
UFG
9612
SAMA WATER
9613
SHALFA
9614
PURITY
9615
MUFEED
9616
JANA
9617
ARABICA STAR
9618
ALFAKHERA
9619
MULTI BUSINESS
9620
BALSM MEDICAL
9621
DRC
9622
SMC
9623
ALBATTAL FACTORY
9624
ALSHEHILI METAL
9625
ITMAM
9626
SMILE CARE
9627
TMC
9628
LAMASAT
9630
RATIO
9631
HKC
9632
FUTURE VISION
9633
SERVICE EQUIPMENT
9634
ADEER
9635
ADEER
9530
TIBBIYAH
9637
AXELERATED SOLUTIONS
9639
ANMAT
9640
ASAS MAKEEN
9641
HAWYIA
9642
TIME
9644
NAF
9539
AQASEEM
9647
WAJD LIFE
9648
HAMAD BIN SAEDAN REAL ESTATE
9649
JAMJOOM FASHION
9650
SAHAT ALMAJD
9651
ALTWIJRI
9644
NAF
9645
SIGN WORLD
9647
WAJD LIFE
9648
HAMAD BIN SAEDAN REAL ESTATE
9649
JAMJOOM FASHION
9650
SAHAT ALMAJD
9651
ALTWIJRI
9400
YAQEEN 30 ETF
9401
YAQEEN PETROCHEMICAL ETF
9403
ALBILAD SOVEREIGN SUKUK ETF
9404
ALINMA GOVERNMENT SUKUK ETF
9405
ALBILAD GOLD ETF
9409
YAQEEN ESG ETF
9410
ALBILAD HONG KONG CHINA ETF
9412
ALBILAD SAUDI EQUITY ETF
4700
ALKHABEER INCOME
4701
ALKHABEER GROWTH AND INCOME
4702
ALKHABEER INCOME 2030
4703
SEDCO MULTI ASSET
1010
Riyad Bank
1030
SAIB
1050
BSF
1060
SAB
1080
ANB
1180
SNB
4072
MBC Group
4280
Kingdom
9402
SABI Quant ETF
9411
SABI HK ETF
9586
Osool and Bakheet
9602
Yaqeen
- Companies whose accumulated losses exceed 50% of their paid-up capital are highlighted in red, based on the disclosures issued by the listed companies. Trading in these companies is restricted for financing clients only—including margin trading and Murabaha clients—in addition to companies that are non-Sharia-compliant.