Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is BNY (BNY) Halal?

FAIL

BNY · NYSE: BNY · Financials

The short answer

No - BNY (BNY) fails this Shariah stock screen at all three gates. BNY, formerly BNY Mellon, is the world's largest custody bank, earning its revenue from conventional banking and financial services - custody and fund administration, clearing, collateral management, payments, investment management, and wealth services ($59.3 trillion in assets under custody and/or administration at Dec 31, 2025) - a core non-compliant business segment. The financial ratios also fail: total liabilities of $427,579M are about 432% of its ~$99B market cap (~$144-150/share, October 2026), far above the ~33% ceiling, and net interest income of $4,944M is about 24.62% of FY2025 revenue ($20,080M) - gross interest income is 63.37% per Zoya's parse - far above the 5% ceiling. Zoya independently rates BNY not Shariah-compliant. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

Gate 1 — Business activity: FAIL

BNY (NYSE: BNY), formerly BNY Mellon, is a global financial services company headquartered in New York, NY (incorporated Delaware; SIC 6022 state commercial banks). Per its Form 10-K for the fiscal year ended December 31, 2025 (filed February 25, 2026; accession 0001390777-26-000033; CIK 0001390777), it provides investment, securities, payments, wealth and market-infrastructure solutions: custody and fund administration, issuer services, clearing, collateral management, liquidity and financing, payments and trade, markets execution, investment management, and wealth services. It is the world's largest custodian: $59.3 trillion in assets under custody and/or administration and $2.2 trillion in assets under management at Dec 31, 2025. Business-screen implication (factual): conventional banking and financial services are the core business - conventional finance is a core non-compliant segment under AAOIFI-based screens (a niche 'Islamic Fund Services' line for European Shari'ah-compliant funds does not change the company's business model), the same treatment as the banks screened earlier in this pipeline (Banco Santander, SMFG, BBVA, Mizuho). Gate 1 fails. Facts only.

Gate 2 — Debt and cash: FAIL

Per BNY's Form 10-K for the fiscal year ended December 31, 2025 (filed February 25, 2026; accession 0001390777-26-000033; $ millions), total liabilities at December 31, 2025 were $427,579M (total assets $472,300M; total deposits $331,894M; common shareholders' equity $39,477M; cross-check: $472,300M assets - $44,721M total equity = $427,579M). Against a market cap of about $99B (midpoint of the $97-102B range, October 2026; sanity check: 686,379,000 shares outstanding at Mar 31, 2026 x $143.92 = about $98.79B - consistent), liabilities / market cap is about 432% - far above the ~33% ceiling. Long-term debt alone (~$31.9B per aggregator Q4 2025) would sit near 32%, but the operative bank measure is total liabilities, which fails massively. Gate 2 fails. Facts only.

Gate 3 — Non-compliant income: FAIL

Per BNY's Form 10-K for the fiscal year ended December 31, 2025 (filed February 25, 2026; accession 0001390777-26-000033; $ millions), net interest income was $4,944M (FY2024: $4,312M; FY2023: $4,345M) against total revenue of $20,080M (fee and other revenue $15,136M + net interest income $4,944M) = about 24.62% of revenue - far above the 5% non-compliant income ceiling. On a gross basis, Zoya's parse of BNY's FY2025 annual report records interest income of $25,626M on gross revenue of $40,441M = 63.37% - the failure is even harder. Either measure fails. Gate 3 fails. Facts only.

Key figures used

Frequently asked questions

What does BNY do?

BNY (NYSE: BNY), formerly BNY Mellon, is a global financial services company headquartered at 240 Greenwich Street, New York, NY (incorporated Delaware; SIC 6022 state commercial banks). Per its Form 10-K for the fiscal year ended December 31, 2025 (filed February 25, 2026; accession 0001390777-26-000033; CIK 0001390777; figures from the 2025 Annual Report incorporated into the 10-K): 'a global financial-services company providing investment, securities, payments, wealth and market-infrastructure solutions.' Services include custody and fund administration, issuer services, clearing, collateral management, liquidity and financing, payments and trade, markets execution, investment management, and wealth services - the world's largest custodian, with $59.3 trillion in assets under custody and/or administration and $2.2 trillion in assets under management at Dec 31, 2025. It was formed in 2007 by the merger of The Bank of New York (founded 1784; the first company listed on the NYSE) and Mellon Financial. Its common stock trades on the NYSE (ticker BNY; migrated from BK during 2026). FY2025 total revenue was $20,080M.

Why does BNY fail this Shariah stock screen?

BNY fails all three gates of this Shariah stock screen. Gate 1 (business activity): conventional banking and financial services (custody, securities servicing, lending, interest-based deposits, asset management) are the core business - conventional finance is a core non-compliant segment, the same treatment as the banks screened earlier in this pipeline (Banco Santander, SMFG, BBVA, Mizuho). Gate 2 (debt): total liabilities of $427,579M are about 432% of its ~$99B market cap (October 2026), far above the ~33% ceiling. Gate 3 (non-compliant income): net interest income of $4,944M is about 24.62% of FY2025 total revenue ($20,080M) - gross interest income is $25,626M (63.37% per Zoya's parse of the annual report) - far above the 5% ceiling. Result: FAIL. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

What is BNY's interest-bearing debt ratio?

Per BNY's Form 10-K for the fiscal year ended December 31, 2025 (filed February 25, 2026; accession 0001390777-26-000033; $ millions), total liabilities at December 31, 2025 were $427,579M (total assets $472,300M; total deposits $331,894M; common shareholders' equity $39,477M; cross-check: $472,300M assets - $44,721M total equity = $427,579M). Against a market cap of about $99B (midpoint of $97-102B range, October 2026; sanity check: 686,379,000 shares outstanding at Mar 31, 2026 x $143.92 = about $98.79B - consistent), liabilities / market cap is about 432% - far above the ~33% ceiling. Long-term debt alone (~$31.9B per aggregator Q4 2025, not a filed line item cited here) would sit near 32% - but the operative bank measure is total liabilities, which fails massively. Gate 2 fails. Facts only.

How much interest income does BNY earn?

Per BNY's Form 10-K for the fiscal year ended December 31, 2025 (filed February 25, 2026; accession 0001390777-26-000033; $ millions), net interest income was $4,944M (FY2024: $4,312M; FY2023: $4,345M) against total revenue of $20,080M (fee and other revenue $15,136M + net interest income $4,944M) = about 24.62% of revenue - far above the 5% non-compliant income ceiling. On a gross basis, Zoya's parse of BNY's FY2025 annual report records interest income of $25,626M on gross revenue of $40,441M = 63.37% - the failure is even harder. Either measure fails. Gate 3 fails. Facts only.

Do Zoya, Musaffa, or ShariaPortfolio cover BNY?

Zoya covers BNY at zoya.finance/stocks/bk (page still uses the old 'BK' ticker): 'As of , BK is not Shariah-compliant and therefore not considered halal to invest in,' with FY2025 data fields of gross revenue $40,441,000,000 and interest income $25,626,000,000 (63.37% of combined total). Musaffa: no BNY stock page found in web searches - honestly reported as no coverage found, not invented. ShariaPortfolio: no BNY stock page found in web searches - honestly reported as no coverage found, not invented.

Sources

Screened 2026-10-02 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).