SAN
¿Es Banco Santander, S.A. (SAN) halal?
Banco Santander, S.A. (SAN) is currently classified NON_COMPLIANT under the AAOIFI Standard 21 halal screen - the strictest of the mainstream halal certification frameworks, with a debt ratio of 186.5% against the 30% AAOIFI threshold. The full breakdown of which AAOIFI criteria the stock passes or fails is below. Educational screen, not a fatwa - always verify with your local scholar.
AAOIFI Standard 21 criteria. The screen tests four conditions, each independently disqualifying: (1) business activity must not be in prohibited sectors (alcohol, gambling, conventional banking, conventional insurance, pork, adult entertainment, weapons of mass destruction), (2) interest-bearing debt as a share of market cap (or total assets) must be below 30%, (3) interest-bearing income as a share of total revenue must be below 5%, and (4) illicit-business revenue as a share of total revenue must be below 5%.
Banco Santander, S.A.'s screen result. Banco Santander, S.A. operates in the Financial Services sector (Banks - Diversified industry), with a debt ratio of 186.5%. The specific reasons driving the classification: sector_banking.
Why AAOIFI vs lighter screens. Dow Jones Islamic and S&P Shariah indices allow up to 33% debt-to-market-cap, which lets in many companies that classical Islamic jurisprudence would exclude. AAOIFI Standard 21's stricter 30% debt-to-assets threshold reflects classical scholarship - stocks that pass it are accepted by Saudi, Emirati, and Malaysian Sharia boards. invest-like uses AAOIFI specifically because the looser screens admit borderline cases that defeat the purpose of a halal screen for most observant investors.
Important caveats. This is an automated educational screen against documented AAOIFI criteria, not a religious fatwa. AAOIFI thresholds can change; some scholars apply additional qualitative tests (debt purification, dividend purification) beyond the four quantitative criteria above. Always verify with your local scholar before treating any stock as halal-compliant for your specific purposes.
How invest-like measures this
invest-like aplica el filtro AAOIFI Standard 21 - el más estricto de los filtros halal convencionales. Prueba tres criterios cuantitativos (ratio de deuda, ingresos por intereses, ingresos de actividades ilícitas) más una prueba cualitativa de actividad comercial. Una acción se clasifica como HALAL solo si pasa los cuatro.
Los umbrales AAOIFI son deliberadamente más estrictos que los índices Dow Jones Islamic y S&P Shariah - reflejan la jurisprudencia islámica clásica, no los índices Sharia occidentales más laxos que permiten hasta el 33% de deuda. Las acciones que pasan el filtro AAOIFI son aceptadas por la mayoría de consejos Sharia saudíes, emiratíes y malasios. Verifica siempre con tu erudito local; esto es un filtro educativo, no una fatwa.
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