Al-Rajhi Bank, represented by its Sharia Board, has released lists of companies that comply and those that do not comply with Sharia regulations on the Saudi main and parallel markets. The list of companies compliant with Sharia regulations on the main market included 140 companies and 9 publicly traded real estate investment trusts (REITs), including the ”Al-Ahli REIT,” which was listed this month, and the ”Al Rajhi REIT,” which is currently open for subscription, while the list of companies violating the regulations included 32 companies.

As for the parallel market—Nomu—the list of permissible companies included all nine companies on the market. According to “Al-Rajhi Capital,” the Sharia Board of ”Al-Rajhi Bank” issued its ruling regarding the permissibility of investing in and trading the shares of joint-stock companies based on their purpose, activities, and regulations governing transactions in their shares. The ruling categorized these companies into three types, focusing on joint-stock companies with permissible purposes and activities, and it is permissible to invest in and trade the shares of these companies in accordance with the conditions and provisions of sale. However, it prohibited dealing with joint-stock companies with impermissible purposes and activities, as well as companies engaged in impermissible transactions.