What is Finward Bancorp's Shariah compliance score?

Finward Bancorp's (FNWD) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Finward Bancorp pass AAOIFI screening?

Finward Bancorp (FNWD) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (FNWD: 45.4%), (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. HalalScreener provides free AAOIFI screening for 6,200+ stocks at halalscreener.app.

How much purification is needed for Finward Bancorp stock?

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 exact percentage and amount for Finward Bancorp (FNWD) using the latest financial data.

Where can I screen Finward Bancorp for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Finward Bancorp (FNWD) and 5,100+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows the verdict, compliance grade, score, and debt ratio free. No credit card or signup required for basic screening; the full ratio breakdown is part of Pro. HalalScreener also includes an AI Islamic Scholar for follow-up questions about FNWD's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

FNWD: Is Finward Bancorp Halal?

Finward Bancorp

NASDAQFinancial ServicesUS

$43.06

-0.90%

Market Cap: 186.6M

Compliance Status

Not Halal

Screened on Aug 26, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Finward Bancorp (FNWD) halal? Not Halal. Based on AAOIFI screening, Finward Bancorp has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

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%.

45.4% of 30.0% limit

What this means for you

Most scholars advise not holding FNWD

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About Finward Bancorp

Finward Bancorp serves as the parent entity for Peoples Bank, a financial institution offering a comprehensive suite of banking products and services. Its deposit offerings include various checking accounts, both with and without interest, alongside savings accounts, money market deposit accounts, certificates of deposit, and specialized retirement savings plans. The company's lending activities are diverse, encompassing residential mortgage loans for purchasing, refinancing, or building homes; construction loans provided to individuals and contractors; commercial real estate financing; personal consumer loans for household or family expenditures; home equity lines of credit; home improvement and equity-backed loans; commercial business loans; government-backed loans; and funding for municipalities. Beyond traditional banking, Finward Bancorp delivers a range of wealth management and fiduciary services. These comprise estate and retirement planning, guardianship administration, land trusts, profit-sharing and 401(k) retirement plans, IRA and Keogh accounts, and investment agency accounts. The company also acts as a personal representative for estates and functions as a trustee for both revocable and irrevocable trusts. Additionally, it provides insurance and annuity investment options to its wealth management clients, manages a portfolio of real estate properties, and operates as a real estate investment trust. As of March 2, 2022, the company operated 30 branches situated in Lake and Porter counties in Northwest Indiana, extending into the South Chicagoland area. Originally incorporated in 1994 as NorthWest Indiana Bancorp, the company adopted its current name, Finward Bancorp, in May 2021. Its corporate headquarters are located in Munster, Indiana.

Sector: Financial Services · Industry: Banks - Regional

Shariah Compliance Status

AAOIFI Standard 21Updated Aug 26, 2026

Business Activity Screen

Failed

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

Prohibited industry: Banks - Regional

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.

Fiscal: FY 2025Data 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:

GLDA+

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SLVA+

iShares Silver Trust

$57.44

+0.47%

PSLVA+

Sprott Physical Silver Trust

$21.30

+6.23%

PHYSA+

Sprott Physical Gold Trust

$31.75

+0.19%

CEFA+

Sprott Physical Gold and Silver Trust

$43.28

+4.44%

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Free · No credit card required

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Frequently Asked Questions

Is Finward Bancorp (FNWD) halal to invest in?

Finward Bancorp (FNWD) 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 Finward Bancorp get a F compliance rating?

Finward Bancorp (FNWD) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 45.4% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Finward Bancorp's Shariah verdict?

Finward Bancorp'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 Finward Bancorp re-screened for Shariah compliance?

Finward Bancorp (FNWD) 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: Aug 26, 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.