Is VEON Ltd. (VEON) Halal?
Shariah Screening — 5 Standards
Based on financial data from December 2025
| Standard | Debt Ratio | Cash Ratio | Receivables | Income | Status |
|---|---|---|---|---|---|
| AAOIFI | 126.0% / 30% | 54.9% / 30% | 15.4% / 30% | 1.22% / 5% | ✗ NOT HALAL |
| DJIM | 126.0% / 33% | 54.9% / 33% | 15.4% / 33% | 1.22% / 5% | ✗ NOT HALAL |
| MSCI | 58.4% / 33% | 25.5% / 33% | 7.1% / 33% | 1.22% / 5% | ✗ NOT HALAL |
| S&P | 126.0% / 33% | 54.9% / 33% | 15.4% / 33% | 1.22% / 5% | ✗ NOT HALAL |
| FTSE | 58.4% / 33% | 25.5% / 33% | 7.1% / 50% | 1.22% / 5% | ✗ NOT HALAL |
Financial Highlights
Profitability
| Gross Margin | 88.0% | |
| Operating Margin | 27.6% | |
| Net Margin | 12.1% | |
| Return on Equity (ROE) | 40.9% | |
| Return on Assets (ROA) | 8.8% |
Cash Flow & Balance Sheet
| Operating Cash Flow | $1.4B |
| Free Cash Flow | $404M |
| Total Debt | $5.1B |
| Debt-to-Equity | 314.9 |
| Current Ratio | 0.9 |
| Total Assets | $9.2B |
Price & Trading
| Last Close | $46.72 |
| 50-Day MA | $52.87 |
| 200-Day MA | $51.69 |
| Avg Volume | 98K |
| Beta | 1.6 |
|
52-Week Range
$34.55
| |
About VEON Ltd. (VEON)
VEON Ltd. provides telecommunications and digital services in Pakistan, Ukraine, Kazakhstan, Bangladesh, and Uzbekistan. The company offers mobile telecommunications services under prepaid and postpaid subscriptions, including value-added and call completion services, national and international roaming services, wireless Internet access, mobile financial services, and mobile bundles; fixed-line telecommunications using fiber optic networks; cross-border transmission services; prepaid scratch cards and electronic recharge options; mobile services on 2G, 3G, and 4G/LTE networks; cloud solutions, including consumer storage apps; local, long-distance, and international voice services; and customer support through contact centers. It also provides FikrFree, a digital insurance marketplace; Tamasha, a video streaming app; ROX, a digital lifestyle brand; Garaj, a cloud platform; ApnaClinic and Helsi digital healthcare platforms; SIMOSA, ZARR, and RYZE lifestyle platforms; Kyivstar TV, a media streaming service; My Kyivstar, a self-service application; Uklon, a ride-hailing and delivery platform; Adwisor, an adtech platform; Simply, a mobile-only neobank; BeeTV, an entertainment platform; Hitter and riitm music streaming platforms; MyBL, Janymda, and Hambi super-apps; AI tutor, an AI-powered learning assistant; Toffee, an infotainment platform; BCloud, a digital infrastructure solution; Beepul, a financial services solution; KINOM, a digital entertainment platform; BeeMarket, an electronics and home appliance marketplace; Hambi Davo, a suite of digital health services; and OQ, a digital platform. The company distributes its products and services through a direct sales force, franchises, third-party retailers, distributors, supermarkets, stores, chains, online, offices, and other channels. The company was formerly known as VimpelCom Ltd. and changed its name to VEON Ltd. in March 2017. VEON Ltd. was founded in 1992 and is headquartered in Dubai, the United Arab Emirates.
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Frequently Asked Questions
Is VEON Ltd. (VEON) halal to invest in?
Based on our screening using AAOIFI Standard 21 (the strictest methodology), VEON Ltd. is Not Halal. The company fails one or more screening criteria. We screen against all 5 major standards: AAOIFI, DJIM, MSCI, S&P, and FTSE.
What is VEON Ltd.'s debt ratio?
VEON Ltd.'s debt ratio is 126.0% under the AAOIFI standard (which uses market capitalization as the denominator). The AAOIFI threshold is 30%. Under MSCI and FTSE (which use total assets as the denominator), the debt ratio is 58.4%.
What are VEON Ltd.'s key financial metrics?
VEON Ltd. has a market capitalization of $3.2B, trailing P/E ratio of 6.2, and revenue of $4.4B. The company maintains a gross margin of 88.0% and a net margin of 12.1%. Return on equity stands at 40.9%.
How often is the screening data updated?
Our screening data is updated regularly using the latest available financial statements and market data. Stock prices and market caps are refreshed frequently, while financial statements are updated quarterly when companies report earnings.
Disclaimer: HalalStockGuide.com provides Shariah compliance screening for educational and informational purposes only. This is not a fatwa, financial advice, or a recommendation to buy or sell any security. Screening results are based on publicly available financial data and established methodologies. Always consult a qualified Islamic scholar and a licensed financial advisor before making investment decisions.