Is CFG (Citizens Financial Group, Inc.) Halal or Haram?
Citizens Financial Group completely fails the AAOIFI shariah screening across all four metrics. Its core business is fundamentally incompatible due to an interest income ratio of 86.68%, far exceeding the 5% limit. Furthermore, the company's debt-to-market cap of 40.8% and cash-to-market cap of 178.8% both breach the 33% threshold, cementing its non-compliant status.
Price Chart (5D)
CFG — Last 7 Days
| Date | Open | High | Low | Close | Volume | Change |
|---|---|---|---|---|---|---|
| 2026-06-09 | 64.90 | 66.06 | 64.54 | 65.67 | 4.8M | +1.19% |
| 2026-06-08 | 64.31 | 64.95 | 63.79 | 64.35 | 4.4M | +0.06% |
| 2026-06-05 | 63.94 | 64.57 | 63.59 | 63.98 | 3.7M | +0.06% |
| 2026-06-04 | 62.30 | 63.94 | 62.16 | 63.90 | 5.2M | +2.57% |
| 2026-06-03 | 62.01 | 62.21 | 61.21 | 61.53 | 3.3M | -0.77% |
| 2026-06-02 | 60.67 | 62.44 | 60.56 | 62.31 | 5.8M | +2.70% |
| 2026-06-01 | 61.25 | 61.50 | 60.28 | 60.78 | 5.4M | -0.77% |
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Shariah Screening Details for CFG
Business Activity
Non-Compliant
CFG fails the business activity screen because its core operations as a conventional bank revolve around impermissible interest-based lending, including mortgages, credit cards, and business loans.
Debt / Market Cap
40.85%
Interest Income
86.68%
Cash & Securities
178.80%
About Citizens Financial Group, Inc. (CFG)
Citizens Financial Group, Inc. operates as a major regional bank holding company in the United States. It provides a wide array of retail and commercial banking services, including deposit products, mortgages, credit cards, and wealth management to individuals and businesses.
For Muslim investors, CFG is classified as Not Halal (Haram) as it fails all four AAOIFI screening criteria. Because its core operations are built on conventional, interest-based banking, the stock fundamentally violates Islamic finance principles regarding riba (usury).
From an Islamic finance perspective, CFG's financial structure is highly problematic. The bank derives a massive 86.68% of its revenue from interest income, while its debt-to-market cap ratio sits at a non-compliant 40.8%. Additionally, its cash and securities ratio of 178.8% heavily exceeds the 33% limit.
There is no scholarly debate regarding conventional banks like CFG; they are unanimously considered impermissible for Islamic portfolios. Halal investors should avoid this stock entirely and look toward Islamic banking alternatives or non-financial sectors for compliant investments.
CEO
Bruce Winfield Van Saun
Employees
17,315
IPO Date
2014-09-24
Headquarters
Providence, RI, US
Website
www.citizensbank.comCFG Key Financial Statistics
Revenue
$11.15B
Net Income
$1.83B
EPS (Diluted)
$3.86
Stock Price
64.99
Beta
1.06
52-Week Range
35.9-68.79
Total Debt
$11.28B
Total Equity
$26.32B
Current Ratio
1.04
CFG Financial Health & Profitability
Profit Margins
Revenue Growth (YoY)
-9.7%
Prior year: $12.35B
Net Cash
$1.45B
Cash: $12.73B — Debt: $11.28B
Frequently Asked Questions About CFG
Is CFG (Citizens Financial Group, Inc.) stock halal to invest in?▾
What does Citizens Financial Group, Inc. do?▾
What screening criteria were used for CFG?▾
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Disclaimer
This shariah compliance assessment for CFG (Citizens Financial Group, Inc.) is provided for informational purposes only and does not constitute financial, investment, or religious advice. Screening criteria are based on widely accepted AAOIFI standards, but individual scholars may differ in their opinions. Always consult with a qualified Islamic scholar and licensed financial advisor before making investment decisions. Past screening status does not guarantee future compliance. Last screened: 2026-04-29.
