Toronto Dominion Bank (The) (TD) - Not Halal (Non-Compliant)
Toronto Dominion Bank (The) (TD) is classified as Not Halal (Non-Compliant) according to AAOIFI Shariah screening standards. This assessment is based on business activity screening and financial ratio analysis using the AAOIFI methodology.
Business Activity Screen
- Sector
- Financial Services
- Industry
- Banks - Diversified
- Result
- Doubtful
- Reason
- This company requires further review: description mentions: consumer lending. The sector "Financial Services" is not categorically excluded, but deeper analysis is recommended.
Financial Ratios
- Debt Ratio
- Value: 240.2% | Threshold: 30% | Result: Fail
- Cash & Interest-bearing Securities Ratio
- Value: 191.9% | Threshold: 30% | Result: Fail
- Non-Permissible Income Ratio
- Value: 92.9% | Threshold: 5% | Result: Fail
Dividend Purification
Purification percentage: 92.87%.Based on the company's financial statements, approximately 92.87% of dividend income should be donated to charity for purification. This is derived from identified interest income (92.87% of total income). Some scholars may differ on the exact calculation method.
About Toronto Dominion Bank (The)
The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking; U.S. Retail; Wealth Management and Insurance; and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases. It also provides credit cards and payments; real estate secured lending, auto finance, and consumer lending services; point-of-sale payment solutions for large and small businesses; wealth and asset management products, and advice to retail and institutional clients through direct investing, advice-based, and asset management businesses; and property and casualty insurance, as well as life and health insurance products. The company also provides capital markets, and corporate and investment banking products and services, including underwriting and distribution of new debt and equity issues; advice on strategic acquisitions and divestitures; and trading, funding, and investment services to corporations, governments, and institutions. The Toronto-Dominion Bank was founded in 1855 and is headquartered in Toronto, Canada.