Is AFB halal?
AllianceBernstein National Muni
Not halal
AllianceBernstein National Muni did not pass AAOIFI screening. The failed check is shown below.
Checked: 15 October 2026
This stock was delisted on 17 September 2026. The verdict is frozen as of that day and is no longer updated.
Exchange
NYSE
Price
10.1
Day
-0.30%
Market cap
$276.0M
Industry
Asset Management
Sector
Financial Services
What the company does
AllianceBernstein National Municipal Income Fund is a closed-end fund investing in US state and local municipal bonds exempt from federal income tax. Its income is tax-exempt interest, paid out monthly.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Prohibited activity: Asset Management
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $132.13M ÷ current market cap $275.95M = 47.9%
47.9%
Fail
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $3.94M ÷ current market cap $275.95M = 1.4%
1.4%
Pass
Non-compliant income / total revenue
limit 5%
Interest income $27.29M ÷ annual revenue $3.84M (2025) = 710.0%
710.0%
Fail
Figures from the company's filings (2025-10-31), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict.
For information (AAOIFI 3/1 note): cash + receivables are 1.4% of total assets (2025-10-31). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
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Halal is the first question. The second: when to enter?
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This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.