Shares of ADNOC Distribution are Shariah compliant

Abu Dhabi 25-08-2019
ADNOC Distribution, listed on the Abu Dhabi Securities Exchange (ADSM), has announced that it has received a Shariah-compliant rating certificate, according to a survey conducted by the United Islamic Banks Shariah Committee for Shari’ah Shares in the UAE.
This certificate allows the brokerage firms of Islamic banks to trade shares of ADNOC Distribution.
“This certification paves the way for our current and future shareholders who prefer to be Shariah-compliant to invest in ADNOC Distribution, which will expand our investor base and contribute to the liquidity of our shares,” said ADNOC Distribution’s Acting CEO.
It is worth mentioning that ADNOC Distribution recorded strong financial results during the first half of this year, including an increase in the annual net profit rate by 4.3% .. while free financial flows recorded “EBITDA minus capital expenditure” increased by 21% YoY.