Is Close Brothers Group (CBG.L) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. Close Brothers Group (CBG.L) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (Yahoo industry “Banks - Regional”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 2 October 2026.
Close Brothers Group is not compliant under Halal / Islamic guidelines
AAOIFI Shari’ah Standard 21 Financial Audit
Figures from the latest annual report (the SEC filing or, for European companies, the ESEF annual report, where one exists, checked against Yahoo Finance) and a 36-month average market value.
| Test | Standard Limit | Actual Figure | Status |
|---|---|---|---|
| Main business | — | — | Fail |
| Interest-bearing debt | 30% | 1756.61% | Review |
| Cash and interest-bearing investments | 30% | 304.47% | Fail |
| Prohibited income | 5% | 91.48% | Review |
| Not just cash and debts | 90% | 96.80% | Review |
Key Findings & Observations
- Its main business is conventional banking, lending or insurance (Yahoo industry “Banks - Regional”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1).Source: Business check
- The interest-bearing debt test couldn’t be settled: The figures give 28.3% and 1756.6%, on either side of the limit. The balance sheet is in order of liquidity, as banks and insurers present it, so every liability that isn’t clearly tax, provisions, pensions, policyholder contracts or payables is counted as possible borrowing.Source: AAOIFI Shari'ah Standard 21
- Cash and interest-bearing investments are 304.5% of the company’s 35-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/3).Source: AAOIFI Shari'ah Standard 21
- The prohibited income test couldn’t be settled: Only an upper estimate is available, and it is over the limit. Revenue is the sum of the income lines the filing tags, which can only understate it.Source: AAOIFI Shari'ah Standard 21
- The not just cash and debts test couldn’t be settled: The figures give 14.9% and 96.8%, on either side of the limit. The balance sheet is in order of liquidity, as banks and insurers present it, so every asset that isn’t clearly property, intangibles, tax, pensions, inventory, insurance or a stake in an associate is counted as possible cash or interest-bearing investment.Source: AAOIFI Shari'ah Standard 21
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Frequently Asked Questions about Close Brothers Group plc (CBG.L)
Is Close Brothers Group (CBG.L) stock halal?▾
No. Close Brothers Group (CBG.L) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (Yahoo industry “Banks - Regional”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 2 October 2026.
What is Close Brothers Group's debt ratio under Islamic finance standards?▾
Under AAOIFI Shari’ah Standard 21, interest-bearing debt must stay under 30% of a company's 36-month average market value. Close Brothers Group's ratio is about 1756.6%.
How much dividend purification is required for Close Brothers Group (CBG.L) stock?▾
Close Brothers Group does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does Close Brothers Group operate in prohibited business activities?▾
AAOIFI Shari’ah Standard 21 excludes companies whose main business is prohibited, such as alcohol, pork, gambling, conventional interest-based finance and adult entertainment. Close Brothers Group's main business is checked against these. For companies that file with the US SEC, revenue by division is also read from the filing, so a division in a prohibited business is counted. Where the check cannot be settled, the result is shown as Needs Review rather than guessed.
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