Is State Street (STT) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. State Street (STT) 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 15 September 2026.
State Street 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% | 96.84% | Review |
| Cash and interest-bearing investments | 30% | 852.94% | Review |
| Prohibited income | 5% | 83.51% | Fail |
| Not just cash and debts | 90% | 71.06% | 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
- Its annual report has a product line called ‘Securities Financing Services’ (3.6% of revenue). We couldn’t tell from the name whether it is conventional banking, lending or insurance.Source: https://www.sec.gov/Archives/edgar/data/93751/000009375126000124/
- The interest-bearing debt test couldn’t be settled: The figures give 0.4% and 96.8%, on either side of the limit. Includes lease liabilities that may be ordinary rent, which AAOIFI does not count as borrowing.Source: AAOIFI Shari'ah Standard 21
- The cash and interest-bearing investments test couldn’t be settled: The figures give 14.8% and 852.9%, on either side of the limit. Includes long-term investments that may be shares in other companies.Source: AAOIFI Shari'ah Standard 21
- Prohibited income, interest included, is 83.5% of total revenue. AAOIFI’s limit is 5% (Shari'ah Standard 21, 3/4/4).Source: AAOIFI Shari'ah Standard 21
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Frequently Asked Questions about State Street Corporation (STT)
Is State Street (STT) stock halal?▾
No. State Street (STT) 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 15 September 2026.
What is State Street'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. State Street's ratio is about 96.8%.
How much dividend purification is required for State Street (STT) stock?▾
State Street does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does State Street 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. State Street'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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