Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is American Express Company (AXP) Halal?

FAIL

American Express Company · NYSE: AXP · Financials

The short answer

No — American Express Company (AXP) fails this Shariah stock screen at the business-activity gate. It is both a card network and a card issuer/lender (charge and credit card products, global merchant network, merchant services, Centurion lounges): interest-based card lending is a core part of its business, and interest-based lending is a prohibited business activity under AAOIFI-style screens, excluded at the business gate. The numbers confirm it: FY2025 interest income of $25,598M is about 31.81% of combined revenue ($80,464M), versus a 5% non-compliant-income ceiling. The debt gate is not assessed for a card issuer/lender (receivables and borrowings are operating assets/liabilities). Zoya rates AXP not Shariah-compliant; no verifiable Musaffa or ShariaPortfolio rating for American Express was found — honestly reported as absent, not invented.

Gate 1 — Business activity: FAIL

American Express Company (NYSE: AXP), founded in 1850 and headquartered in New York, is a payments enterprise operating charge and credit card products, a global merchant network, merchant services, fraud prevention and Centurion airport lounges. It is both a card network and a card issuer/lender — earning interest on card-member loans alongside discount revenue from merchants. Business-screen implication (factual): under AAOIFI-style screens, interest-based lending is a prohibited business activity excluded at the business gate — the Fiqh Council of North America explicitly lists conventional financial services among excluded businesses. Interest-based card lending is a core part of AmEx's business. Gate 1 fails. Facts only.

Gate 2 — Debt and cash: Not assessed — business gate decisive

Not assessed — the business gate is decisive. For a card issuer/lender, card-member receivables and borrowings are operating assets and liabilities, not corporate borrowing, so a debt-to-market-cap ratio is not meaningful. The screen already fails at Gate 1. Facts only.

Gate 3 — Non-compliant income: FAIL

Zoya's page cites American Express's FY2025 annual report (fiscal year ended December 31, 2025): interest income of $25,598,000,000 against combined revenue of $80,464,000,000 — about 31.81% of revenue, massively above the 5% non-compliant income ceiling. (Its page also renders the usual contradictory "$0 interest income" template block; the 10-K-sourced figure is authoritative.) Interest-based card lending is a core business line, so the screen already fails at the business-activity gate. Gate 3 fails. Facts only.

Key figures used

Frequently asked questions

What does American Express do?

American Express Company (NYSE: AXP), founded in 1850 and headquartered in New York, is a payments enterprise operating charge and credit card products, a global merchant network, merchant services, fraud prevention and Centurion airport lounges. It is both a card network and a card issuer/lender — earning interest on card-member loans alongside discount revenue from merchants.

Why does American Express fail this Shariah stock screen?

American Express fails this screen at the first gate — the business-activity gate. It is a card issuer and lender: interest-based card lending is a core part of its business — FY2025 interest income of $25,598M is about 31.81% of combined revenue ($80,464M), far above the 5% non-compliant income ceiling. Under AAOIFI-style business screens, interest-based lending is a prohibited business activity excluded at the business gate, regardless of balance-sheet strength. The debt gate is not assessed for a financial company (card-member receivables are its operating assets). Zoya rates AXP not Shariah-compliant. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

What is American Express's debt ratio?

The debt gate is not assessed for American Express because the business gate is decisive: as a card issuer/lender, card-member receivables and borrowings are its operating assets and liabilities, not corporate borrowing, so a debt-to-market-cap ratio is not meaningful. The screen already fails at Gate 1.

What is American Express's non-compliant income ratio?

Zoya's page cites American Express's FY2025 annual report (fiscal year ended December 31, 2025): interest income of $25,598,000,000 against combined revenue of $80,464,000,000 — about 31.81% of revenue, massively above the 5% non-compliant income ceiling. (Its page also renders the usual contradictory "$0 interest income" template block; the 10-K-sourced figure is authoritative.) Interest-based card lending is a core business line, so the screen already fails at the business-activity gate.

Do Zoya, Musaffa, or ShariaPortfolio cover American Express?

Zoya covers AXP (zoya.finance/stocks/axp): "As of , AXP is not Shariah-compliant and therefore not considered halal to invest in" (the "As of" date is blank on the page), citing interest income $25,598,000,000 = 31.81% of combined revenue (FY2025 annual report). No verifiable Musaffa or ShariaPortfolio rating for American Express was found in public search — honestly reported as absent, not invented. This page applies the screen directly from the company's own disclosed business.

Sources

Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).