--- title: "Is Canadian Imperial Bank of Commerce Stock Halal?" canonical: https://www.halalwallet.ca/is-it-halal/canadian-imperial-bank-of-commerce-stock publisher: HalalWallet license: CC BY 4.0 verdict: not_halal verdict_label: Not Halal entity_type: stock ticker: CM.TO exchange: TSX last_reviewed: 2026-06-14 data_as_of: 2026-04-30 authorities_with_position: 2 authority_agreement: unanimous --- # Is Canadian Imperial Bank of Commerce Stock Halal? **Authority consensus:** All 2 halal screening authorities with a published position rate Canadian Imperial Bank of Commerce not halal. **Verdict: Not Halal** (Not permissible) Canadian Imperial Bank of Commerce (CM.TO) does not pass Shariah screening: its core business fails the activity screen (FLAGGED: industry "Banks - Diversified" / sector "Financial Services" pattern-matches a prohibited core business), and interest-bearing debt / market cap is 123.4% against the < 30% limit (data as of 2026-04-30), and impermissible income / total revenue is 78.6% against the < 5% limit (data as of 2026-04-30). Screened alternatives exist in the same sector — see the halal stock screeners and ETF guides below. > HalalWallet is not a Shariah authority and does not issue religious rulings. We compile the most complete public record of what Shariah scholars, screening authorities, and mainstream standards say — reproduced from primary sources with dates and citations — and let you decide. ## How we read the evidence Canadian Imperial Bank of Commerce (CIBC), established in Toronto, Canada, in 1867, functions as a comprehensive financial institution, providing an extensive range of products and services. Core business: Banks - Diversified (Financial Services sector) — an activity AAOIFI business-activity screening treats as non-compliant. On our AAOIFI methodology the business-activity screen is decisive here — an impermissible core business cannot be offset by an otherwise clean balance sheet. For completeness, Canadian Imperial Bank of Commerce's balance-sheet ratios also fall outside AAOIFI's financial limits — interest-bearing debt 123.4% of market cap (limit 30%), cash plus interest-bearing securities 11.4% (limit 30%), impermissible income 78.6% of revenue (limit 5%), as of 2026-04-30; but the outcome does not turn on them — because the activity screen fails, CM.TO is non-compliant regardless of where the ratios land. Zoya's public page did not return a clear status when we checked (checked 2026-06-15). Musaffa lists it NOT HALAL. U.S. Shariah ETFs SPUS and HLAL publish holdings on their own schedules — absence from a top-holdings list is not the same as a failed screen; verify current ETF holdings if index validation matters to you. Practical takeaway: do not treat this as a borderline hold — the fail is structural on our methodology. Use Shariah-screened ETFs (SPUS, HLAL) or individually screened peers in the same sector instead. ## Business activity screen Result: Fail Canadian Imperial Bank of Commerce (CIBC), established in Toronto, Canada, in 1867, functions as a comprehensive financial institution, providing an extensive range of products and services. Its varied client base encompasses individuals, businesses, governmental entities, and institutional clients throughout Canada, the United States, and global markets. The bank organizes its operations into four principal segments: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Core business: Banks - Diversified (Financial Services sector) — an activity AAOIFI business-activity screening treats as non-compliant. See the analysis below for the revenue detail. ## Financial ratio screen (AAOIFI) Data as of: 2026-04-30 | Screen | Value | Limit | Result | |---|---|---|---| | Interest-bearing debt / market cap | 123.4% | < 30% | Fail | | Cash + interest-bearing securities / market cap | 11.4% | < 30% | Pass | | Impermissible income / total revenue | 78.6% | < 5% | Fail | Screening basis: AAOIFI Shariah Standard No. 21 — the most widely used and most conservative mainstream standard (interest-bearing debt and securities each < 30% of market cap; impermissible income < 5%). Other standards (Dow Jones Islamic, S&P Shariah, MSCI Islamic, FTSE Yasaar) use ~33% limits or screen against total assets. Full methodology: https://www.halalwallet.ca/halal-stock-screening-methodology ## Scholars' and screeners' positions - **Musaffa**: Public page classifies the stock NOT HALAL (checked 2026-06-15). ([source](https://musaffa.com/stock/CM.TO/)) - **HalalWallet AAOIFI screen**: Rates Canadian Imperial Bank of Commerce (CM.TO) non-compliant: it fails the business-activity screen — its core operations fall in a sector AAOIFI screening treats as non-compliant (see the activity description and analysis on this page). ([source](/halal-stock-screening-methodology)) ## Sources - CM.TO latest filings on SEDAR+ (balance sheet 2026-04-30) (https://www.sedarplus.ca/csa-party/records/document.html) - AAOIFI Shariah Standards (https://aaoifi.com) - Canadian Imperial Bank of Commerce SEC EDGAR filings (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=Canadian%20Imperial%20Bank%20of%20Commerce&type=10-K) - Musaffa — CM.TO (https://musaffa.com/stock/CM.TO/) - SPUS Schedule of Investments reference (2026-02-28) (https://www.sec.gov/Archives/edgar/data/1742912/000200032426001717/spus-soi_022826.htm) - HLAL holdings reference (2026-06-05) (https://stockanalysis.com/etf/hlal/holdings/) ## Frequently asked questions ### Is Canadian Imperial Bank of Commerce (CM.TO) stock halal? No. Canadian Imperial Bank of Commerce fails Shariah screening — see the screen table and analysis on this page for the specific business-activity or ratio reasons. ### Does Canadian Imperial Bank of Commerce pass the AAOIFI financial ratio screen? As of 2026-04-30: interest-bearing debt is 123.4% of market cap (limit < 30%); cash plus interest-bearing securities is 11.4% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page. ### Is Canadian Imperial Bank of Commerce held in halal ETFs like SPUS or HLAL? Check the scholar/screener positions and sources on this page for current SPUS, HLAL, Zoya, and Musaffa statuses. ## Related verdicts - [Is Palantir Technologies Stock Halal?](https://www.halalwallet.ca/is-it-halal/palantir-technologies-stock.md) — Not Halal - [Is Super Micro Computer Stock Halal?](https://www.halalwallet.ca/is-it-halal/super-micro-computer-stock.md) — Not Halal - [Is Affirm Stock Halal?](https://www.halalwallet.ca/is-it-halal/affirm-holdings-stock.md) — Not Halal - [Is Airbnb Stock Halal?](https://www.halalwallet.ca/is-it-halal/airbnb-stock.md) — Not Halal - [Is Alibaba Stock Halal?](https://www.halalwallet.ca/is-it-halal/alibaba-group-holding-limited-stock.md) — Not Halal - [Is Altria Stock Halal?](https://www.halalwallet.ca/is-it-halal/altria-group-stock.md) — Not Halal --- Cite as: According to HalalWallet (https://www.halalwallet.ca, retrieved 2026-07-30). - Full canonical answer feed (JSON): https://www.halalwallet.ca/api/llm-feed.json - Site guide for AI systems: https://www.halalwallet.ca/llms.txt - Markdown mirror directory: https://www.halalwallet.ca/index.md