Is TKC halal?
Turkcell Iletisim Hizmetleri AS
Not halal
Turkcell Iletisim Hizmetleri AS did not pass AAOIFI screening. The failed check is shown below.
Checked: 13 October 2026
Exchange
NYSE
Price
4.93
Day
-1.00%
Market cap
$4.36B
Industry
Telecom Services
Sector
Communication Services
What the company does
Turkcell is Turkey's largest mobile operator (Istanbul), offering mobile, home internet and digital services (BiP, TV+), with operations in Ukraine and Belarus too. Revenue comes from subscriber fees.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
No prohibited activity
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $4.30B ÷ current market cap $4.36B = 98.7%
98.7%
Fail
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $3.18B ÷ current market cap $4.36B = 73.0%
73.0%
Fail
Non-compliant income / total revenue
limit 5%
Interest income $230.42M ÷ annual revenue $4.43B (2024) = 5.2%
5.2%
Fail
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict.
For information (AAOIFI 3/1 note): cash + receivables are 25.2% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Halal stocks in the same industry
The largest halal stocks in Telecom Services — for comparison.
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Halal is the first question. The second: when to enter?
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This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.