BLK
BlackRock Inc.
Is BLK Halal?
Financial ratios pass, but BlackRock does not disclose a reproducible Sharia-screened revenue numerator across its conventional funds, bond products, and investment vehicles.
What You Should Know
BlackRock's investment-management and technology businesses are not automatically prohibited, but it manages conventional equity, bond, private-market, and derivative products. Its March 31, 2026 Form 10-Q reports $170,237 million of assets, $12,749 million of borrowings, $9,841 million of cash, $3,799 million of debt securities, $5,219 million of accounts receivable, and $6,698 million of quarterly revenue. Disclosed interest and dividend income was $90 million. The ratios pass the examined total-assets screens, while the business classification remains DOUBTFUL because product-level revenue and mandate details are not reported at a screenable level.
⚠️ Concerns
- •Manages bond funds and other riba-linked products
- •Conventional index funds and ETFs can contain non-compliant holdings
- •Debt securities were $3,799 million and disclosed interest/dividend income was $90 million
- •Derivatives, securities lending, private credit, and digital-asset products require continuing review
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
12,749 / 170,237
13,640 / 170,237
15,060 / 170,237
90 / 6,698
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 7.49%, liquidity/assets is 8.01%, receivables plus cash/assets is 8.85%, and disclosed interest/dividend income is 1.34%; the product-level business screen remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
The examined total-assets ratios pass, but BlackRock's fund mandates and underlying holdings are not disclosed at a reproducible prohibited-revenue level.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and liquidity/assets are below the examined 33% limits, but the business classification remains incomplete; this is not an official SAC classification.
- Financial
- Not calculated
- Overall
- Not calculated
Market-cap methods are not calculated because a properly licensed and reproducible issuer history is not stored.
Business-activity disclosure
BlackRock's investment-management and technology businesses are not automatically prohibited, but it manages conventional equity, fixed-income, private-market, derivative, and other products.
Limitation: The filing does not isolate revenue by Sharia-screened fund mandate, bond exposure, derivative product, private-credit strategy, or underlying holding, so a prohibited-revenue percentage would be speculative.
Purification
Disclosed interest and dividend income is $90 million, but product-level operating revenue is not separated enough to prescribe a complete purification amount.
Inputs, assumptions and primary sources
- Amounts are USD millions from BlackRock's March 31, 2026 Form 10-Q and rounded to the nearest million.
- Borrowings are $12,749 million; separate-account liabilities are client or fund balances and are not treated as corporate debt.
- Cash is $9,841 million and debt securities are $3,799 million, comprising trading debt securities of $3,304 million and held-to-maturity investments of $495 million.
- Accounts receivable is $5,219 million and quarterly revenue from contracts with customers is $6,698 million.
- Interest and dividend income is $90 million; BlackRock does not disclose a defensible prohibited-revenue numerator by fund mandate or product.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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