Is WPP (WPP) stock Halal?

WPP is a global advertising and public relations company, which plays a pivotal role in the marketing and communications industry. It offers a vast array of services that are essential to shaping brands and reaching consumers, including advertising, media investment management, data investment management, public relations and public affairs, branding and identity, as well as specialist communications and digital marketing services. Before any of that matters to a Muslim investor, one question comes first: is WPP stock Halal?

Is WPP Shariah compliant?

For a company like WPP, the first question AAOIFI Shariah Standard No. 21 asks is about content and advertising: platform businesses can carry impermissible elements, and the standard tolerates them only as incidental income below 5% of revenue. Only then do the financial ratios come into play.

Does WPP pass the business activity test?

The activity screen is only part of the picture this month: WPP currently fails the interest-bearing investments and interest-bearing debt screens, so the overall verdict is not compliant regardless of the business itself. The watch item is content: advertising and programming can include impermissible material, which AAOIFI treats as incidental only below the 5% revenue ceiling.

Is WPP's income Halal?

Yes, within AAOIFI's tolerance. WPP's income from non-permissible sources stays below 5% of revenue in the September 2026 screening.

Does WPP meet AAOIFI's debt and investment ratio requirements?

No. Both ratios currently breach the 30% caps: interest bearing investments and interest bearing debt each exceed the limit AAOIFI permits for a Halal investment. The ratios move with the share price as well as the balance sheet, and our Shariah Supervisory Board has WPP re-screened every month.

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