Is SoFi Technologies (SOFI) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. SoFi Technologies (SOFI) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (SEC industry code 6199 (Finance Services)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 18 October 2026.
SoFi Technologies 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% | 9.85% | Pass |
| Cash and interest-bearing investments | 30% | 51.15% | Review |
| Prohibited income | 5% | — | Review |
| Not just cash and debts | 90% | 21.58% | Pass |
Key Findings & Observations
- Its main business is conventional banking, lending or insurance (SEC industry code 6199 (Finance Services)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1).Source: Business check
- The cash and interest-bearing investments test couldn’t be settled: The figures give 25.1% and 51.1%, on either side of the limit. Includes long-term investments that may be shares in other companies.Source: AAOIFI Shari'ah Standard 21
- The prohibited income test couldn’t be settled: SEC filing reports interest income of $3.4B, more than the company’s cash, investments and receivables could earn at 10% ($1.1B), so that figure was set aside. Yahoo reports interest income of $3.4B, more than the company’s cash, investments and receivables could earn at 10% ($1.1B), so that figure was set aside. So the income test can’t be settled.Source: AAOIFI Shari'ah Standard 21
Get an email when verdicts change
One email a month. No spam, unsubscribe any time.
Frequently Asked Questions about SoFi Technologies, Inc. (SOFI)
Is SoFi Technologies (SOFI) stock halal?▾
No. SoFi Technologies (SOFI) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (SEC industry code 6199 (Finance Services)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 18 October 2026.
What is SoFi Technologies'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. SoFi Technologies's ratio is about 9.9%.
How much dividend purification is required for SoFi Technologies (SOFI) stock?▾
SoFi Technologies does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does SoFi Technologies 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. SoFi Technologies'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.
Other Halal & Shariah-compliant Financial Services Stocks
Explore other screened equities in the Financial Services sector.
Track your entire portfolio for Halal / Islamic compliance
Check whether your stocks, ETFs, and 401(k) holdings comply with AAOIFI Shari’ah Standard 21. Save stocks and keep every holding’s verdict in one place.