Is CS (Credit Suisse / UBS AG) halal?

Q: Is CS (Credit Suisse / UBS AG) halal?

HARAM: Swiss banking — wealth management with conventional finance. Credit Suisse was absorbed by UBS, so this route uses UBS Group's Q1 2026 filing as the current successor record. UBS reports net interest income at 16.29% of total revenues, debt at 69.71% and receivables plus cash at 52.40% of assets; conventional wealth management, lending and investment banking remain material.

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CS

Credit Suisse / UBS AG

HARAM — SCREEN DOES NOT PASSstock

Is CS Halal?

Swiss banking — wealth management with conventional finance.

What You Should Know

Credit Suisse was absorbed by UBS, so this route uses UBS Group's Q1 2026 filing as the current successor record. UBS reports net interest income at 16.29% of total revenues, debt at 69.71% and receivables plus cash at 52.40% of assets; conventional wealth management, lending and investment banking remain material.

⚠️ Concerns

•UBS successor record for the historical CS alias
•Wealth management with interest-bearing products
•Investment banking, trading and securities financing

Current quantitative Sharia screen

Based on UBS Group 1Q26 Full Report (Credit Suisse successor) figures for the period ended 2026-03-31; calculated 2026-07-14.

USD · millions

Interest-bearing debt / assets

69.71%Above limit

Below 33.333% under FTSE Yasaar

1,175,593 / 1,686,521

Cash + interest-bearing securities / assets

35.83%Above limit

Below 33.333% under FTSE Yasaar

604,333 / 1,686,521

Receivables + cash / assets

52.38%Above limit

Below 50% under FTSE Yasaar

883,452 / 1,686,521

Non-compliant income / revenue (upper bound)

16.29%Above limit

No more than 5% under FTSE Yasaar

2,320 / 14,243

Methodology	Financial	Overall	What drives it
FTSE Yasaar v4.6, February 2026	Fails	Fails	Debt is 69.71% of assets, liquidity is 35.83%, receivables plus cash are 52.40%, and net interest income is 16.29%; the examined limits are exceeded.
MSCI Islamic (total-assets series) October 2024 methodology	Fails	Fails	Debt, liquidity and receivables-plus-cash exceed the examined MSCI total-assets limits.
Malaysia SAC financial ratios single 5% activity benchmark adopted November 2025	Fails	Fails	Debt and liquidity exceed the examined SAC ratios; this is a calculation against SAC ratios, not an official SAC classification.
Market-cap denominator methods MSCI M-Series, S&P and Dow Jones methods differ	Not calculated	Fails	Historical market-cap ratios are not stored; a different denominator cannot cure the failed conventional financial-services activity.

FTSE Yasaar

v4.6, February 2026

Financial: Fails
Overall: Fails

Debt is 69.71% of assets, liquidity is 35.83%, receivables plus cash are 52.40%, and net interest income is 16.29%; the examined limits are exceeded.

MSCI Islamic (total-assets series)

October 2024 methodology

Financial: Fails
Overall: Fails

Debt, liquidity and receivables-plus-cash exceed the examined MSCI total-assets limits.

Malaysia SAC financial ratios

single 5% activity benchmark adopted November 2025

Financial: Fails
Overall: Fails

Debt and liquidity exceed the examined SAC ratios; this is a calculation against SAC ratios, not an official SAC classification.

Market-cap denominator methods

MSCI M-Series, S&P and Dow Jones methods differ

Financial: Not calculated
Overall: Fails

Historical market-cap ratios are not stored; a different denominator cannot cure the failed conventional financial-services activity.

Business-activity disclosure

Credit Suisse was absorbed by UBS, so this route uses UBS Group's Q1 2026 filing as the current successor record. UBS's consolidated net interest income was 16.29% of total revenues, and lending, securities financing and conventional investment banking remain material.

Limitation: The successor report does not classify every advisory, wealth-management, trading, subsidiary or contract by Sharia status; conventional lending and disclosed net interest independently establish the activity concern.

Purification

Purification is not calculated because the core conventional financial-services activity fails; the 16.29% net-interest ratio is evidence of failure, not a donation amount that makes ownership compliant.

Inputs, assumptions and primary sources

USD millions from UBS Group's consolidated 31 March 2026 report; the CS route is retained as a historical Credit Suisse alias because UBS absorbed Credit Suisse.
Interest-bearing funding includes amounts due to banks, securities-financing payables, customer deposits and debt issued at amortised cost or fair value.
Identifiable securities include securities financing receivables, trading assets, non-trading fair-value assets and FVOCI assets; derivatives are excluded. UBS customer loans are the receivables/financing-assets proxy.
Consolidated net interest income of USD 2,320 million is used as the conservative non-compliant-income numerator against USD 14,243 million total revenues.

UBS Group AG: UBS Group Consolidated 1Q26 Full Report FTSE Russell: FTSE Yasaar Global Equity Shariah Index Series Ground Rules MSCI: MSCI Islamic Index Series Methodology Securities Commission Malaysia: Shariah-Compliant Securities Screening Methodology

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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