Is NDAQ (Nasdaq, Inc.) Halal or Haram?
Although Nasdaq passes all financial ratios, including a low debt-to-market cap of 19.2% and interest income of just 0.46%, it ultimately fails the AAOIFI screening due to its core business activities. Operating a conventional financial exchange involves deriving significant revenue from non-compliant financial markets, derivatives, and conventional banking ecosystems, rendering the stock haram for Muslim investors.
Price Chart (5D)
NDAQ — Last 7 Days
| Date | Open | High | Low | Close | Volume | Change |
|---|---|---|---|---|---|---|
| 2026-06-08 | 87.28 | 87.28 | 86.16 | 86.78 | 2.6M | -0.57% |
| 2026-06-05 | 88.88 | 89.10 | 86.50 | 87.28 | 4.4M | -1.80% |
| 2026-06-04 | 88.80 | 89.87 | 88.42 | 88.45 | 3.3M | -0.39% |
| 2026-06-03 | 87.58 | 88.15 | 86.50 | 86.81 | 3.6M | -0.88% |
| 2026-06-02 | 91.92 | 92.07 | 86.88 | 87.91 | 5.7M | -4.36% |
| 2026-06-01 | 92.49 | 93.94 | 92.00 | 92.81 | 3.3M | +0.35% |
| 2026-05-29 | 90.91 | 93.75 | 90.71 | 92.52 | 5.0M | +1.77% |
Discussion
Sign in to join the discussion
Loading comments...
Shariah Screening Details for NDAQ
Business Activity
Non-Compliant
Nasdaq fails the business activity screen because its core operations as a conventional stock exchange involve facilitating and profiting from non-compliant financial instruments, derivatives, and interest-bearing securities.
Debt / Market Cap
19.16%
Interest Income
0.46%
Cash & Securities
1.62%
About Nasdaq, Inc. (NDAQ)
Nasdaq, Inc. operates as a major global technology company and stock exchange, serving capital markets worldwide. Beyond traditional cash equities trading, it provides critical market technology, including SaaS solutions like Nasdaq Trade Surveillance and the Verafin anti-financial crime management platform.
For Muslim investors using HalalStocks.co.uk, Nasdaq is currently classified as Not Halal (Haram). While the company successfully passes all three financial ratio screens under AAOIFI standards, it fails the crucial business activity screen due to its foundational role in conventional financial markets.
From a strictly financial perspective, Nasdaq maintains healthy metrics, carrying a permissible debt-to-market cap ratio of 19.2% and minimal cash holdings of 1.6%. Its interest income is also exceptionally low at 0.46% of total revenue, showing minimal direct reliance on interest-bearing accounts.
However, because conventional exchanges facilitate the trading of interest-bearing bonds, options, and non-compliant financial derivatives, the core revenue streams are inextricably linked to haram activities. Islamic finance scholars generally agree that investing directly in the corporate operators of conventional financial exchanges is not permissible.
CEO
Adena T. Friedman
Employees
9,377
IPO Date
2002-07-01
Headquarters
New York City, NY, US
Website
www.nasdaq.comNDAQ Key Financial Statistics
Revenue
$8.22B
Net Income
$1.79B
EPS (Diluted)
$3.09
Stock Price
91.17
Beta
1.02
52-Week Range
74.11-101.79
Total Debt
$9.93B
Total Equity
$12.23B
Current Ratio
1.01
NDAQ Financial Health & Profitability
Profit Margins
Revenue Growth (YoY)
+11.1%
Prior year: $7.40B
Net Debt
$9.11B
Cash: $814.0M — Debt: $9.93B
Frequently Asked Questions About NDAQ
Is NDAQ (Nasdaq, Inc.) stock halal to invest in?▾
What does Nasdaq, Inc. do?▾
What screening criteria were used for NDAQ?▾
When was NDAQ last screened?▾
Disclaimer
This shariah compliance assessment for NDAQ (Nasdaq, 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.
