Is South Plains Financial (SPFI) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. South Plains Financial (SPFI) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (SEC industry code 6022 (State Commercial Banks)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 30 September 2026.
South Plains Financial 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% | 9.10% | Pass |
| Cash and interest-bearing investments | 30% | 83.12% | Fail |
| Prohibited income | 5% | — | Review |
| Not just cash and debts | 90% | 38.11% | Pass |
Key Findings & Observations
- Its main business is conventional banking, lending or insurance (SEC industry code 6022 (State Commercial Banks)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1).Source: Business check
- Cash and interest-bearing investments are 83.1% of the company’s 36-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: Yahoo reports interest income of $252M, more than the company’s cash, investments and receivables could earn at 10% ($170.8M), 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 South Plains Financial, Inc. (SPFI)
Is South Plains Financial (SPFI) stock halal?▾
No. South Plains Financial (SPFI) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (SEC industry code 6022 (State Commercial Banks)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 30 September 2026.
What is South Plains Financial'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. South Plains Financial's ratio is about 9.1%.
How much dividend purification is required for South Plains Financial (SPFI) stock?▾
South Plains Financial does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does South Plains Financial 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. South Plains Financial'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.