MS
Morgan Stanley
Is MS Halal?
Conventional investment bank — net interest income is 13.14% of Q1 net revenue and core financing is conventional.
What You Should Know
Morgan Stanley's March 31, 2026 Form 10-Q shows $1,581,418 million of assets and $2,703 million of net interest income against $20,580 million of quarterly net revenue. Investment banking, bonds, derivatives, margin lending, securities financing and conventional wealth products fail the examined activity screen.
⚠️ Concerns
- •Investment banking and bond underwriting
- •Derivatives, margin lending and structured products
- •Conventional wealth-management portfolios
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
371,568 / 1,581,418
549,647 / 1,581,418
670,817 / 1,581,418
2,703 / 20,580
- Financial
- Fails
- Overall
- Fails
Debt is 23.50% of assets, identifiable liquidity is 26.31% and net interest income is 13.14% of revenue; conventional financial activity independently fails.
- Financial
- Fails
- Overall
- Fails
Receivables-plus-cash and identifiable liquidity exceed the examined total-assets limits, and conventional financial activity independently fails.
- Financial
- Fails
- Overall
- Fails
Net interest income is 13.14% of revenue and conventional financial services are the core business. This is a calculation against SAC ratios, not an official SAC classification.
- Financial
- Not calculated
- Overall
- Fails
Historical market-cap ratios are not stored; another denominator cannot cure the failed conventional-finance activity.
Business-activity disclosure
Morgan Stanley is a conventional investment bank and wealth manager focused on securities underwriting, trading, derivatives, financing, lending and asset management. Net interest income alone was 13.14% of quarterly net revenue, above the examined 5% activity benchmark.
Limitation: The filing does not classify every trading, advisory, financing or wealth-management contract by Sharia status. The conventional financial-services core independently fails.
Purification
Purification is not calculated because Morgan Stanley fails at the core conventional-finance activity level. The 13.14% net-interest figure establishes failure rather than a donation percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Morgan Stanley's March 31, 2026 Form 10-Q.
- Debt uses reported borrowings and secured financing liabilities; trading liabilities are excluded rather than assumed entirely interest-bearing.
- Identifiable interest-bearing securities include interest-bearing bank deposits, resale agreements and available-for-sale and held-to-maturity debt securities.
- Receivables include customer and other receivables, financing receivables and resale agreements.
- Net interest income of $2,703 million is compared with $20,580 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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