SAMSF
Aramex PJSC
Is SAMSF Halal?
Logistics and shipping — permissible service. Middle East based.
What You Should Know
Aramex is a Dubai-based logistics and courier company. Q1 2026 AED figures show 5,936.131 million total assets, 1,932.042 million borrowings and lease liabilities, and 518.964 million cash equivalents; core freight, express, logistics and supply-chain services remain generally permissible.
⚠️ Concerns
- •Minor finance income
- •Borrowings and lease liabilities are close to the examined 33% asset threshold
- •UAE issuer data uses net cash equivalents after overdrafts
Current quantitative Sharia screen
Based on interim financial statements figures for the period ended 2026-03-31; calculated 2026-07-14.
1,932.042 / 5,936.131
523.71 / 5,936.131
1,643.336 / 5,936.131
1.034 / 1,599.837
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 32.55%, liquidity/assets is 8.82% and receivables plus cash/assets is 27.68%; disclosed finance income/revenue is 0.06%. Business-revenue allocation remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets, liquidity/assets and receivables plus cash/assets are below the examined total-assets limits; this is a calculation against the named method, not an official DFM classification.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and identifiable conventional liquidity are below the examined Malaysia SAC limits; this is not an official SAC classification and business allocation remains incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series is not stored; this record uses asset-based calculations for the preserved SAMSF alias.
Business-activity disclosure
Aramex's freight, express shipping, logistics and supply-chain services are generally permissible. The preserved SAMSF alias maps to the UAE-listed ARMX issuer.
Limitation: The issuer does not allocate every customer contract or revenue stream into a universal prohibited-activity numerator, so the business screen remains qualitative.
Purification
Finance income is disclosed, but no scholar-approved purification percentage is prescribed; readers should follow their chosen methodology and scholar.
Inputs, assumptions and primary sources
- Amounts are AED millions from Aramex's Q1 2026 investor data book and interim financial statements.
- Debt includes AED 930.027 million non-current borrowings, AED 24.045 million current borrowings, AED 24.148 million bank overdrafts and AED 953.822 million current and non-current lease liabilities; this is a conservative financing-obligation total.
- Cash and cash equivalents are AED 518.964 million after the statement's overdraft, margin and fixed-deposit presentation; the issuer press release separately cites AED 551 million bank balances and cash.
- Accounts receivable is AED 1,124.372 million, revenue is AED 1,599.837 million and finance income is AED 1.034 million. The filing's balance-sheet extract does not separately identify a broad debt-securities portfolio; AED 4.746 million of FVOCI financial assets is treated as identifiable securities.
- SAMSF is the preserved OTC/alias ticker for Aramex PJSC, which is listed on the Dubai Financial Market as ARMX.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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