Is ICICI Bank Ltd Share halal or haram? If you’re searching for a comprehensive Shariah compliance analysis of ICICI Bank Ltd, you’ve come to the right place!
In this article, we provide a detailed breakdown of ICICI Bank Ltd’s business operations, financials, and compliance with Shariah screening guidelines. Whether you’re an ethical investor or exploring halal investment opportunities, this analysis will help you make an informed decision.
Based on the Shariah Screening Standard and information available, ICICI Bank Ltd is classified as Not Halal and Non-Shariah Compliant. The screening result indicates that the main business activity of the bank are incompatible with Shariah rules, meaning that its operations involve elements that violate Islamic financial principles.
Why is ICICI Bank Ltd Not Halal and Non-Shariah Compliant?
The primary reason why ICICI Bank is deemed Not Halal is due to its core business activities. As a conventional bank, ICICI Bank operates on an interest-based (riba) model, which is strictly prohibited in Islam. Conventional banks generate profits primarily through lending money with interest, which contradicts the fundamental Islamic financial principles.
Since the main business activities of ICICI Bank do not align with Shariah principles, In this case the Shariah screening process does not even proceed to financial ratio calculations. Muslim investors who wish to ensure that their investments remain Halal should avoid investing in ICICI Bank shares.
Conclusion
Since ICICI Bank Ltd is classified as Not Halal and Non-Shariah compliant, investing in its shares is not permissible under Islamic finance principles. Muslim investors should seek alternative investment opportunities that follow Shariah guidelines to ensure their earnings remain Halal. (Allah Knows the Best)
However, investors are advised to conduct their own due diligence and periodically review the company’s financial reports for any changes in compliance.
Disclaimer: The information on Halalfinance.co.in is for educational and informational purposes only and not financial advice. We are not liable for any investment decisions you make; always consult a financial advisor before investing.
Hasan is the founder of HalalFinance.co.in, created after personally struggling to find reliable answers about halal investing in stocks. With a finance background and a passion for helping the Muslim community, He now shares well-researched, transparent, and authentic content to empower Muslims on their path to halal wealth-building.