Compliance Status
Not Halal
Screened on Oct 11, 2026 · AAOIFI Standard 21
Non-Compliant
Is Merrill Lynch Depositor Inc. 6.0518% Index Plus Trust Series 2003-1 (IPB) halal? Not Halal. Based on AAOIFI screening, Merrill Lynch Depositor Inc. 6.0518% Index Plus Trust Series 2003-1 has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).
Quote this verdict
HalalScreener rates Merrill Lynch Depositor Inc. 6.0518% Index Plus Trust Series 2003-1 (IPB) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Oct 11, 2026. Source: https://halalscreener.app/en/stock/IPB
Business activity
Involved in prohibited business activities.
Company debt
How 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 IPB
It does not pass AAOIFI Shariah screening.
See halal alternatives from the same sector further down this page
IPB: Is Merrill Lynch Depositor Inc. 6.0518% Index Plus Trust Series 2003-1 Halal?
Merrill Lynch Depositor Inc. 6.0518% Index Plus Trust Series 2003-1
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About Merrill Lynch Depositor Inc. 6.0518% Index Plus Trust Series 2003-1
Bank of America Corporation (BAC) functions as a prominent financial holding company, delivering a wide spectrum of banking and non-banking financial services. Its operations are organized into five primary segments: Consumer Banking, Global Wealth and Investment Management (GWIM), Global Banking, Global Markets, and an "All Other" category. The Consumer Banking division serves individual consumers and small businesses by providing various credit, banking, and investment offerings. GWIM is dedicated to furnishing clients with holistic solutions, which include investment management, brokerage services, banking products, and retirement planning options. Global Banking offers clients lending products, integrated working capital and treasury management systems, alongside underwriting and advisory services. The Global Markets segment provides institutional clients with sales, trading, and research expertise across diverse asset classes such as fixed income, credit, currencies, commodities, and equities. The "All Other" segment encompasses activities like asset and liability management, equity investments, non-core mortgage loans and their servicing, the financial impact of periodic adjustments to the mortgage servicing rights valuation model (for both core and non-core MSRs), other businesses in the process of liquidation, and residual expense allocations. Founded in 1904 by Amadeo Peter Giannini, the company's corporate headquarters are located in Charlotte, North Carolina.
Sector: Financial Services · Industry: Financial - Credit Services
Why this does not pass
- Business activity: the company earns from an activity AAOIFI treats as prohibited.
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
See why IPB is rated Not Halal with institutional-grade analysis
Business Activity Screen
FailedChecks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)
- Interest-bearing debt security: Merrill Lynch Depositor Inc. 6.0518% Index Plus Trust Series 2003-1
Compliance History
Not Halalnow
since Sep 2026
Under Review
until the change above
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
Is Merrill Lynch Depositor Inc. 6.0518% Index Plus Trust Series 2003-1 (IPB) halal to invest in?
Why did Merrill Lynch Depositor Inc. 6.0518% Index Plus Trust Series 2003-1 get a F compliance rating?
What could change Merrill Lynch Depositor Inc. 6.0518% Index Plus Trust Series 2003-1's Shariah verdict?
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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.