--- title: "Is Wells Fargo Stock Halal?" canonical: https://www.halalwallet.ca/is-it-halal/wells-fargo-stock publisher: HalalWallet license: CC BY 4.0 verdict: not_halal verdict_label: Not Halal entity_type: stock ticker: WFC exchange: NYSE last_reviewed: 2026-06-14 data_as_of: 2026-03-31 authorities_with_position: 2 authority_agreement: unanimous --- # Is Wells Fargo Stock Halal? **Authority consensus:** All 2 halal screening authorities with a published position rate Wells Fargo & Company not halal. **Verdict: Not Halal** (Not permissible) Wells Fargo & Company (WFC) does not pass Shariah screening: its core business fails the activity screen (Wells Fargo fails the Shariah business-activity screen because conventional, interest-based banking (riba) is its core b), and interest-bearing debt / market cap is 175.8% against the < 30% limit (data as of 2026-03-31), and cash + interest-bearing securities / market cap is 238.9% against the < 30% limit (data as of 2026-03-31), and impermissible income / total revenue is 70.7% against the < 5% limit (data as of 2026-03-31). It is not held by Shariah-screened ETFs SPUS or HLAL. 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 Wells Fargo is a conventional bank, and conventional banking is the textbook example of a non-compliant business under Shariah screening. Its revenue is dominated by net interest income — the spread it earns by taking deposits and making interest-based loans — along with other interest-linked banking activities. Because riba is at the center of the business model, the qualitative business-activity screen fails immediately. The financial ratios confirm what the business screen already establishes: a bank's balance sheet is built on interest-bearing liabilities and assets, so Wells Fargo's debt and deposit ratios are many multiples of the 30% AAOIFI limits, and interest income is the bulk of its revenue, far over the 5% threshold. None of this is a close call. This is why Zoya, HalalScreener, and every mainstream Shariah screen classify Wells Fargo as not halal, and why it is excluded from Shariah-screened funds such as SPUS and HLAL. Muslim investors seeking financial exposure should consider payment networks (Visa, Mastercard) that earn fees rather than interest, permissible fintech, or Shariah-compliant Islamic banking institutions instead. ## Business activity screen Result: Fail Wells Fargo & Company is a diversified conventional bank, operating consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management. Its core revenue is net interest income earned from interest-based lending. Wells Fargo fails the Shariah business-activity screen because conventional, interest-based banking (riba) is its core business. The financial ratios also fail by wide margins — interest-bearing debt and interest-bearing deposits vastly exceed the 30% AAOIFI limits relative to market cap, and impermissible (interest) income is the majority of revenue, far above the 5% limit. ## Financial ratio screen (AAOIFI) Data as of: 2026-03-31 | Screen | Value | Limit | Result | |---|---|---|---| | Interest-bearing debt / market cap | 175.8% | < 30% | Fail | | Cash + interest-bearing securities / market cap | 238.9% | < 30% | Fail | | Impermissible income / total revenue | 70.7% | < 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 - **SP Funds S&P 500 Sharia ETF (SPUS)**: Not held in SPUS as of 2026-06-13. Absence can reflect screen failure or index scope — verify before citing as a screen outcome. ([source](https://www.sp-funds.com/spus/)) - **Wahed FTSE USA Shariah ETF (HLAL)**: Not held in HLAL as of 2026-06-13. Absence can reflect screen failure or index scope — verify before citing as a screen outcome. ([source](https://stockanalysis.com/etf/hlal/holdings/)) - **Zoya**: Classifies WFC as NOT Shariah-compliant — its conventional banking business fails the AAOIFI activity screen. ([source](https://zoya.finance/stocks/wfc)) - **HalalScreener**: Rates WFC Not Halal (Grade F) under AAOIFI Standard 21 — primary involvement in conventional banking. ([source](https://halalscreener.app/ar/stock/BAC)) ## Sources - WFC latest quarterly filing (balance sheet 2026-03-31) (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=Wells%20Fargo%20%26%20Company&type=10-Q) - AAOIFI Shariah Standards (https://aaoifi.com) - Wells Fargo & Company 10-K filings (SEC EDGAR) (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=WFC&type=10-K) - Zoya — WFC Shariah compliance status (not compliant) (https://zoya.finance/stocks/wfc) - HalalScreener — conventional banks rated Not Halal (Grade F) (https://halalscreener.app/ar/stock/BAC) ## Frequently asked questions ### Is Wells Fargo & Company (WFC) stock halal? No. Wells Fargo & Company fails Shariah screening — see the screen table and analysis on this page for the specific business-activity or ratio reasons. ### Does Wells Fargo & Company pass the AAOIFI financial ratio screen? As of 2026-03-31: interest-bearing debt is 175.8% of market cap (limit < 30%); cash plus interest-bearing securities is 238.9% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page. ### Is Wells Fargo & Company held in halal ETFs like SPUS or HLAL? No — as of our last check, Wells Fargo & Company is not held by SPUS or HLAL. Absence can reflect a failed screen or index scope — verify current holdings before citing. ## 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