What is Shinhan Financial Group Co., Ltd.'s Shariah compliance score?

Shinhan Financial Group Co., Ltd.'s (SHG) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Shinhan Financial Group Co., Ltd. pass AAOIFI screening?

Shinhan Financial Group Co., Ltd. (SHG) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (SHG: 459071.2%), (3) interest-bearing deposits below 30% (SHG: 82395.5%), and (4) prohibited income below 5% (SHG: 82.4%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for Shinhan Financial Group Co., Ltd. stock?

Shinhan Financial Group Co., Ltd. (SHG) has a non-permissible income ratio of 82.40%. Muslim investors should purify this percentage of any dividends received and capital gains realized from SHG shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation using the latest financial data.

Where can I screen Shinhan Financial Group Co., Ltd. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Shinhan Financial Group Co., Ltd. (SHG) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about SHG's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

Is Shinhan Financial Group Co., Ltd. (SHG) halal? Not Halal. Based on AAOIFI screening, Shinhan Financial Group Co., Ltd. has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

SHG: Is Shinhan Financial Group Co., Ltd. Halal?

Not Halal

Shinhan Financial Group Co., Ltd.

NYSEFinancial ServicesKR

$64.92

+4.16%

AvoidBorderlineClean

About Shinhan Financial Group Co., Ltd.

Shinhan Financial Group Co., Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Life Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services. The company also provides corporate banking services, such as investment banking, real estate financing, overseas real estate and development project financing, infrastructure and structured financing, equity/venture investments, mergers and acquisitions consulting; securitization and derivatives services comprising securities and derivative products, and foreign exchange trading; and working capital loans and facilities loans. In addition, it is involved in treasury and investment activities in international capital markets consisting of foreign currency-denominated securities trading, foreign exchange trading and services, trade-related financial services, international factoring services, and foreign banking operations. Further, the company offers trust account management, securities brokerage, and asset management services, as well as leasing and equipment financing, savings banking, loan collection and credit reporting, collective investment administration, private equity investment, and financial system development services. As of December 31, 2021, it operated a network of 784 service centers; 5,234 ATMs; 7 cash dispensers; and 85 digital kiosks. Shinhan Financial Group Co., Ltd. was founded in 1982 and is headquartered in Seoul, South Korea.

Sector: Financial Services · Industry: Banks - Regional

Shariah Compliance Status

AAOIFI Standard 21Updated Jun 17, 2026

Non-Compliant

Fails Shariah screening

0Score

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Prohibited industry: Banks - Regional

Financial Ratio Screen

Failed

Financial ratios must be below AAOIFI thresholds

Debt / Market Cap459071.2% / 30.0%

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Screened: Jun 17, 2026Fiscal: FY 2025Source: FMP

Financial Overview

Market Cap

30.7B

Price

$64.92

Sector

Financial Services

Industry

Banks - Regional

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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Frequently Asked Questions

Is Shinhan Financial Group Co., Ltd. (SHG) halal to invest in?

Shinhan Financial Group Co., Ltd. (SHG) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Shinhan Financial Group Co., Ltd. get a F compliance rating?

Shinhan Financial Group Co., Ltd. (SHG) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 459071.2% (limit 30%); interest-bearing deposits of 82395.5% (limit 30%); prohibited income of 82.40% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Shinhan Financial Group Co., Ltd.'s Shariah verdict?

Shinhan Financial Group Co., Ltd.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Shinhan Financial Group Co., Ltd. re-screened for Shariah compliance?

Shinhan Financial Group Co., Ltd. (SHG) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jun 17, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.