GS
Goldman Sachs Group
Is GS Halal?
Conventional investment bank — net interest income is 20.64% of Q1 net revenue and securities financing is core activity.
What You Should Know
Goldman Sachs's March 31, 2026 Form 10-Q shows $2,060,180 million of assets and $3,555 million of net interest income against $17,227 million of quarterly net revenue. Investment banking, bonds, derivatives, repo, securities lending and principal trading create an independent conventional-finance failure.
⚠️ Concerns
- •Debt underwriting and bond activity
- •Derivatives and structured products
- •Repo, securities lending and principal trading
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
396,304 / 2,060,180
540,039 / 2,060,180
774,946 / 2,060,180
3,555 / 17,227
- Financial
- Fails
- Overall
- Fails
Reported debt is 19.24% of assets, but identifiable liquidity is 26.24% and net interest income is 20.64% of revenue; conventional financial activity independently fails.
- Financial
- Fails
- Overall
- Fails
Receivables-plus-cash is 37.62% of assets, above the examined 33.33% total-assets limit; conventional financial activity independently fails.
- Financial
- Pass
- Overall
- Fails
Debt, identifiable liquidity and receivables-plus-cash are below the examined financial ratios, but conventional financial services are the core business and net interest income is 20.64% of revenue. This is a calculation against SAC ratios, not an official SAC classification.
- Financial
- Not calculated
- Overall
- Fails
Historical market-cap ratios are not stored; a different denominator cannot cure the failed conventional-finance activity.
Business-activity disclosure
Goldman Sachs is a conventional financial-services group focused on investment banking, global markets, securities financing, derivatives, lending and asset management. Net interest income alone was 20.64% of quarterly net revenue, above the examined 5% activity benchmark.
Limitation: The filing reports trading, principal transactions, investment banking and financing categories but does not classify each contract by Sharia status. The conventional financial-services core independently fails.
Purification
Purification is not calculated because Goldman Sachs fails at the core conventional-finance activity level. The 20.64% net-interest figure establishes failure rather than a donation percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Goldman Sachs' March 31, 2026 Form 10-Q.
- Debt uses reported unsecured short- and long-term borrowings plus secured financings.
- Identifiable interest-bearing securities include interest-bearing bank deposits, resale agreements and debt securities; trading assets are excluded.
- Receivables include customer and other receivables, securities borrowed, loans and resale agreements.
- Net interest income of $3,555 million is compared with $17,227 million of quarterly net revenue as a directly disclosed minimum non-compliant business-revenue numerator.
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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