Compliance Status
Not Halal
Screened on Oct 10, 2026 · AAOIFI Standard 21
Non-Compliant
Is Chemung Financial Corporation (CHMG) halal? Not Halal. Based on AAOIFI screening, Chemung Financial Corporation has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).
Quote this verdict
HalalScreener rates Chemung Financial Corporation (CHMG) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Oct 10, 2026. Source: https://halalscreener.app/en/stock/CHMG
Business activity
Involved in prohibited business activities.
Company debt
Over the limitHow much the company borrows, compared to its total value. AAOIFI allows up to 30%.
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.
Screened according to AAOIFI Standard 21
What this means for you
Most scholars advise not holding CHMG
It does not pass AAOIFI Shariah screening.
See halal alternatives from the same sector further down this page
CHMG: Is Chemung Financial Corporation Halal?
Chemung Financial Corporation
$80.54
Market Cap: 388.2M
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About Chemung Financial Corporation
Chemung Financial Corporation (CFC) functions as the parent company for Chemung Canal Trust Company, providing a comprehensive suite of banking, financing, and fiduciary services. CFC offers a diverse array of deposit products, including demand, savings, and time accounts, alongside both interest-bearing and non-interest-bearing checking accounts, and insured money market accounts. The company's lending portfolio encompasses commercial and agricultural loans tailored for small to mid-sized businesses, commercial and residential mortgages, and various consumer loans, such as home equity lines of credit and home equity term loans. Beyond traditional banking, Chemung Financial extends financial solutions like interest rate swaps, letters of credit, wealth management, and support for employee benefit plans. They also facilitate access to mutual funds, various insurance products, brokerage services, and tax preparation services. Additionally, its trust and wealth services include guardian, custodian, and trustee roles. The corporation also acts as an agent for pension, profit-sharing, and other employee benefit trusts, while providing administrative support for investments, pensions, and estate planning. Operating through 31 branch locations, the company serves 13 counties in New York and Bradford County in Pennsylvania. Established in 1833, Chemung Financial Corporation is headquartered in Elmira, New York.
Sector: Financial Services · Industry: Banks - Regional
Why this does not pass
- Business activity: the company earns from an activity AAOIFI treats as prohibited.
- Interest-bearing debt is 36.1% of market cap, over the 30% AAOIFI limit.
- Interest-bearing deposits are over the 30% 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
See which ratio caused the failure.
See the exact debt ratio, interest income %, and prohibited revenue that caused the failure. Know before you sell or hold.
AI Compliance Insight
PROInstitutional-grade Shariah analysis
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Business Activity Screen
FailedChecks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)
- Prohibited industry: Banks - Regional
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.
Screened according to AAOIFI Standard 21
Compliance History
Not Halal, unchanged since Aug 2026.
No status changes recorded since we began tracking.
Tracked since Aug 2026. Updates automatically on each re-screen.
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
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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.