ICICI Bank Ltd

IBN

Not Compliant
Exchange
Sector
Headquarters
Group
India
Large cap

ICICI Bank Ltd is not Shariah Compliant because of its involvement in Corporate Banks and related activities.

-

Impure Income*

-

Purification*

-

Zakat*

Financials

Market cap Group
Analysts' Rating
Price Target (Mean)
Price Target (Low)
Price Target (High)
Total Analysts
Large cap
STRONG BUY
$40.75
$39.00
$42.00
2
Revenue Growth
Operating Margin
Net Profit Margin
Quick Ratio
Current Ratio
EPS Growth
8.01%
35.40%
27.39%
0.00
0.00
-14.02%

Shariah Compliance

  • Updated on October 23, 2025
Debt
22.04%
✓
Non-Compliant Assets
0.00%
✓
Impure Income

AAOIFI Rulebook:

  • Non-compliant Liabilities (like Interest-based Debt) < 30% of Market cap
  • Non-compliant Assets (like Interest-based Investments) < 30% of Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: AAOIFI SS21

Debt
27.09%
✓
Impure Income

S&P Sharia Rulebook:

  • Interest-based Debt < 33% of 36-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: S&P Shariah Methodology

Debt
24.87%
✓
Impure Income

Dow Jones Islamic Market (DJIM) Rulebook:

  • Interest-based Debt < 33% of 24-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: DJIM Methodology

Debt
8.06%
✓
Cash
Cash & AR
Impure Income

FTSE Shariah Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 50% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: FTSE RUSSELL

Debt
8.06%
✓
Cash
Cash & AR
Impure Income

MSCI Islamic Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 33.33% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: MSCI Islamic Indexes

Impure Income Breakdown

-
-
Interest Income
-

Note on Purification and Zakat:

  • Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly). 
  • If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
  • For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them. 

Company Profile

ICICI Bank Limited is a diversified financial services company offering a range of banking and financial services to corporate and retail customers through a variety of delivery channels. The Company offers life and general insurance, asset management, securities broking and private equity products and services through specialized subsidiaries. Its segments include Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others. Its commercial banking operations for retail customers consist of retail lending, deposit taking, distribution of insurance and investment products and other fee-based products and services. It provides a range of commercial banking products and services, including loan products, fee and commission-based products and services, deposit products and foreign exchange and derivatives products to large corporations, middle market companies and small and medium enterprises. It offers agricultural and rural banking products.

Ready to get started with halal investing? Open an Account Today!

Opening an account has never been easier! Please fill out the form here and an advisor will be in touch to walk you through the process!

Still have some further questions?

Schedule a Free Consultation