Is CHMG halal?
Chemung Financial Corp
Not halal
Chemung Financial Corp did not pass AAOIFI screening. The failed check is shown below.
Checked: 13 October 2026
Exchange
NASDAQ
Price
80.51
Day
+1.14%
Market cap
$390.1M
Industry
Banks - Regional
Sector
Financial Services
What the company does
Chemung Financial is the holding company for Chemung Canal Trust Company, a bank in Elmira, New York (since 1833). Revenue comes from the spread between loan interest and deposits, plus trust and wealth-management 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 - Regional
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $136.93M ÷ 36-month average market cap $247.79M = 55.3%
55.3%
Fail
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $346.76M ÷ 36-month average market cap $247.79M = 139.9%
139.9%
Fail
Non-compliant income / total revenue
limit 5%
Interest income $132.84M ÷ annual revenue $93.95M (2025) = 141.4%
141.4%
Fail
Figures from the company's filings (2026-06-30), 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: $390.06M.
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.