What is The Bank of Nova Scotia's Shariah compliance score?

The Bank of Nova Scotia (BNS) has a Shariah compliance score of 0/100 (Grade: F, Non-Compliant). AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%.

Does The Bank of Nova Scotia pass AAOIFI screening?

The Bank of Nova Scotia (BNS) does not pass AAOIFI Shariah screening. AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. BNS's debt-to-market-cap is 171.9%.

How much purification is needed for The Bank of Nova Scotia?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the percentage and amount for The Bank of Nova Scotia (BNS) using the latest financial data.

Where can I screen The Bank of Nova Scotia for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for The Bank of Nova Scotia (BNS) and 8,200+ securities. US-listed stocks and ETFs are screened under AAOIFI Standard No. 21. Bursa Malaysia securities carry the Securities Commission Malaysia's official status. Coins are screened separately, under published scholarly opinion. The verdict is free, with no credit card or signup required for basic screening. The compliance grade, score, and debt ratio are free too; the full ratio breakdown is part of Pro.

BNSNot HalalF

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Compliance Status

Not Halal

Screened on Oct 18, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is The Bank of Nova Scotia (BNS) halal? Not Halal. Based on AAOIFI screening, The Bank of Nova Scotia has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

Quote this verdict

HalalScreener rates The Bank of Nova Scotia (BNS) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Oct 18, 2026. Source: https://halalscreener.app/en/stock/BNS

AvoidBorderlineClean

Business activity

Involved in prohibited business activities.

Failed

Company debt

Over the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

171.9% of 30.0% limit

PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

What this means for you

Most scholars advise not holding BNS

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

BNS: Is The Bank of Nova Scotia Halal?

The Bank of Nova Scotia

NYSEFinancial ServicesCA

$91.60

Market Cap: 111.6B

Screened on a market cap of 158.6B

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About The Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments. The company offers financial advice and solutions, and banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance to individuals; and retail automotive financing solutions. It also provides business banking solutions comprising lending, deposit, cash management, and trade finance solutions to small, medium, and large businesses. In addition, it provides wealth management advice and solutions, including online brokerage, mobile investment, full-service brokerage, trust, private banking, and private investment counsel services; and retail mutual funds, exchange traded funds, liquid alternatives, and institutional funds. The company was founded in 1832 and is headquartered in Toronto, Canada.

Sector: Financial Services · Industry: Banks - Diversified

Why this does not pass

Business activity: the company earns from an activity AAOIFI treats as prohibited.
Interest-bearing debt is 171.9% of market cap, over the 30% AAOIFI limit.
Income from prohibited sources is over the 5% limit.

Screened under AAOIFI Standard 21. The exact figure behind this is part of Pro; the failing check and its limit are always free.

Shariah Compliance Status

AAOIFI Standard 21Updated Oct 18, 2026

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Institutional-grade Shariah analysis

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Business Activity Screen

Failed

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

Prohibited industry: Banks - Diversified

PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

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.

Fiscal: Q3 2026Data source: FMP

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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$51.51

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Sprott Physical Silver Trust

$18.48

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Sprott Physical Gold Trust

$31.50

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Sprott Physical Gold and Silver Trust

$40.45

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Frequently Asked Questions

Is The Bank of Nova Scotia (BNS) halal to invest in?

The Bank of Nova Scotia (BNS) 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 The Bank of Nova Scotia get a F compliance rating?

The Bank of Nova Scotia (BNS) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 171.9% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change The Bank of Nova Scotia's Shariah verdict?

The Bank of Nova Scotia'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 The Bank of Nova Scotia re-screened for Shariah compliance?

The Bank of Nova Scotia (BNS) 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: Oct 18, 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.