Compliance Status

Halal

Screened on Oct 5, 2026 · AAOIFI Standard 21

A

Very Good

80Score

Is CTW Cayman Class A Ordinary Shares (CTW) halal? Halal. Based on AAOIFI screening, CTW Cayman Class A Ordinary Shares passes both qualitative (business activity) and quantitative (financial ratio) screens with a compliance score of 80/100 (Grade: A).

Quote this verdict

HalalScreener rates CTW Cayman Class A Ordinary Shares (CTW) Halal, 80/100, grade A under AAOIFI Standard 21, screened Oct 5, 2026. Source: https://halalscreener.app/en/stock/CTW

Business activity

What the company sells is permissible.

Passed

Company debt

Well clear of the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

5.9% of 30.0% limit
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Screened according to AAOIFI Standard 21

What this means for you

You can own CTW

It passes both the business activity and financial ratio screens under AAOIFI Standard 21.

Purification amount is Pro

We have screened CTW's prohibited income, but the exact share you would need to purify is part of Pro.

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CTW Cayman Class A Ordinary Shares

CTW: Is CTW Cayman Class A Ordinary Shares Halal?

CTW Cayman Class A Ordinary Shares

NASDAQTechnologyJP

$2.30

Market Cap: 143.5M

Screened on a market cap of 126.7M

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About CTW Cayman Class A Ordinary Shares

CTW Cayman Class A Ordinary Shares (CTW) manages an online gaming platform, primarily serving users in Japan and Singapore. Its flagship offering, G123.jp, is an HTML5-powered portal that delivers free-to-play games. This innovative approach eliminates common hurdles such as downloads, installations, and mandatory sign-ups, guaranteeing fluid, immediate access for a global player base across diverse devices, extending beyond traditional PCs to include mobile platforms. Beyond its core platform, CTW Cayman offers a comprehensive suite of services. These include licensing intellectual property for game creation, digital game publishing, development assistance, marketing and advertising solutions, and dedicated customer support. The firm also maintains in-house art and design teams, alongside dedicated research and development centers. Established in 2013, the company's operations are headquartered in Tokyo, Japan, and it functions as a subsidiary entity under CTW (BVI) LTD.

Sector: Technology · Industry: Electronic Gaming & Multimedia

Shariah Compliance Status

AAOIFI Standard 21Updated Oct 5, 2026

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Business Activity Screen

Passed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Source: the company's Form 20-F for the fiscal year ended 2025-07-31, which names no revenue from a prohibited activity. View its filings on SEC EDGAR

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The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

Compliance History

Halal, unchanged since Aug 2026.

No status changes recorded since we began tracking.

Tracked since Aug 2026. Updates automatically on each re-screen.

Fiscal: Q4 2026Data source: FMP
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Frequently Asked Questions

Is CTW Cayman Class A Ordinary Shares (CTW) halal to invest in?
Based on AAOIFI Standard 21 screening, CTW Cayman Class A Ordinary Shares (CTW) is rated Halal with a compliance grade of A (Very Good). It passes both the business activity screen (no primary involvement in prohibited sectors) and the quantitative financial ratio screen (debt, interest deposits, and prohibited income all below AAOIFI thresholds).
Why did CTW Cayman Class A Ordinary Shares get a A compliance rating?
CTW Cayman Class A Ordinary Shares (CTW) received a grade of A (Very Good) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 5.9% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.
What could change CTW Cayman Class A Ordinary Shares's Shariah verdict?
CTW Cayman Class A Ordinary Shares's verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.
How often is CTW Cayman Class A Ordinary Shares re-screened for Shariah compliance?
CTW Cayman Class A Ordinary Shares (CTW) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Oct 5, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.