BlackRock
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Yet to be announced
Company Overview
BlackRock, Inc. is a publicly owned investment manager. Firm primarily provides its services to institutional, intermediary, and individual investors. Firm launches equity, fixed income, balanced, real estate, currency, commodity, and multi-asset exchange traded funds.
Revenue Sources
BlackRock's primary revenue streams come from investment management and advisory fees, which are based on the value of assets under management. The company does not directly operate in prohibited business activities like gambling, alcohol, or tobacco. Their fee-based business model for managing investments and providing technology solutions is permissible from an Islamic finance perspective.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| June 30, 2024 | $4.8b | $3.13b | - | $126.0m | 0.00% | 4.02% |
| March 31, 2024 | $4.73b | $3.13b | - | $92.0m | 0.00% | 2.94% |
| Dec. 31, 2023 | $4.63b | $3.13b | - | $82.0m | 0.00% | 2.62% |
| Sept. 30, 2023 | $4.52b | $2.97b | - | $82.0m | 0.00% | 2.76% |
Analysis of BlackRock's financial statements over the past four quarters shows that interest expenses represented a small portion of total expenses. Interest expense ratios ranged from 2.6% to 4.0% of total expenses across the examined periods, which is within acceptable limits for Islamic finance criteria.
Operational Ethics
BlackRock maintains offices and operations globally, including in China, where it has received approval to operate a mutual fund business. While the company operates in China, there is no clear evidence of direct material collaboration with the Chinese Communist Party that would constitute a violation of this criterion. The company does not maintain R&D centers or significant operations in Israel.
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