Is AMP (Ameriprise Financial, Inc.) Halal or Haram?

Based on our AAOIFI-standard shariah screening, AMP is Not Halal (Haram) and is not considered permissible for Muslim investors. It failed 2 of 4 compliance screens. Ameriprise Financial, Inc.'s core business activity was found to be non-compliant. Its interest income of 18.90% exceeds the ≤5% limit.

Ameriprise Financial, Inc. is a major American financial services firm that provides wealth management, asset management, and retirement solutions. The company operates globally, offering retail and institutional clients a mix of financial planning, brokerage services, mutual funds, and conventional insurance products. For Muslim investors, Ameriprise Financial is currently classified as Not Halal (Haram) and does not pass AAOIFI standards. While it manages to pass the debt and cash screening thresholds, the company fails on both its core business activities and its interest income levels, making it impermissible for an Islamic portfolio. From an Islamic finance perspective, the company's debt-to-market cap ratio of 13.7% is well within permissible limits. However, the critical issue lies in its revenue generation, where interest income accounts for 18.90% of total revenue, severely breaching the strict 5% limit set for halal investments. Because Ameriprise's foundational business model relies heavily on conventional interest-bearing financial products and non-compliant insurance like annuities, it is fundamentally incompatible with Islamic finance. Investors seeking exposure to the asset management sector should look for firms focused strictly on halal funds or real asset management rather than conventional banking models. Ameriprise Financial, Inc. operates in the Financial Services sector under the Asset Management industry and is headquartered in Minneapolis, MN, US. The company is led by CEO James Cracchiolo and employs approximately 13,600 people.

AMP was screened using AAOIFI-based shariah compliance criteria. Four tests are applied: (1) Business Activity — the company's core business must not derive primary income from haram (prohibited) activities such as alcohol, gambling, tobacco, or interest-based finance. (2) Debt-to-Market-Cap — total debt must not exceed 33% of market capitalization. (3) Interest Income — interest income must not exceed 5% of total revenue. (4) Cash & Securities — cash and interest-bearing securities must not exceed 33% of market cap. AMP passed 2 of these 4 screens.

AMP was last screened on 2026-04-29. Shariah compliance status can change as companies report new financial data, acquire new businesses, or shift revenue streams. We recommend checking back periodically for the most up-to-date screening results.