Is BNS halal?
Bank Nova Scotia Halifax Pfd 3
Not halal
Bank Nova Scotia Halifax Pfd 3 did not pass AAOIFI screening. The failed check is shown below.
Checked: 13 October 2026
Exchange
NYSE
Price
91.6
Day
+0.53%
Market cap
$108.05B
Industry
Banks - Diversified
Sector
Financial Services
What the company does
Bank of Nova Scotia (Canada) is Canada's third-largest bank with a big Latin American presence (Mexico, Peru, Chile). Retail and corporate lending and wealth management; revenue comes from loan interest and fees.
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: Banks - Diversified
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $245.28B ÷ 36-month average market cap $71.08B = 345.1%
345.1%
Fail
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $151.07B ÷ 36-month average market cap $71.08B = 212.5%
212.5%
Fail
Non-compliant income / total revenue
limit 5%
Interest income $40.45B ÷ annual revenue $26.05B (2025) = 155.3%
155.3%
Fail
Figures from the company's filings (2026-07-31), 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. Today's market cap: $108.05B.
For information (AAOIFI 3/1 note): cash + receivables are 8.4% 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
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 3 superinvestors · Average reported price: $86.79
- Prem WatsaFairfax Financial Holdings$31.2M1.2%
- Tweedy Browne$3.7M0.3%
- Lee AinslieMaverick Capital$4.0M0.0%
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- Halal investingBlogWhy a company's cash affects whether its stock is halalLots of cash sounds like a good sign — but halal screening checks it separately. What counts, what doesn't, and where we are stricter than AAOIFI.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
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.