Compliance Status
Not Halal
Screened on Oct 16, 2026 · AAOIFI Standard 21
Non-Compliant
Is Nuveen Churchill Direct Lending Corp. (NCDL) halal? Not Halal. Based on AAOIFI screening, Nuveen Churchill Direct Lending Corp. passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).
Quote this verdict
HalalScreener rates Nuveen Churchill Direct Lending Corp. (NCDL) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Oct 16, 2026. Source: https://halalscreener.app/en/stock/NCDL
Business activity
What the company sells is permissible.
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 NCDL
It does not pass AAOIFI Shariah screening.
See halal alternatives from the same sector further down this page
NCDL: Is Nuveen Churchill Direct Lending Corp. Halal?
Nuveen Churchill Direct Lending Corp.
$10.62
Market Cap: 524.5M
Get an email if NCDL's halal status changes
We re-screen Nuveen Churchill Direct Lending Corp. daily. If the verdict moves, you hear about it the same day.
Free. One click sets it up, and you can unsubscribe any time.
About Nuveen Churchill Direct Lending Corp.
Nuveen Churchill Direct Lending Corp. (NCDL), initially formed as a Delaware limited liability company on March 13, 2018, and subsequently restructured into a Maryland corporation on June 18, 2019, prior to commencing its business activities, operates as a closed-end, externally managed, non-diversified investment company. It has chosen to be regulated as a Business Development Company (BDC) under the Investment Company Act of 1940, as amended. The firm's principal investment goal is to generate appealing risk-adjusted returns, primarily through current income. This is achieved by predominantly investing in senior secured loans provided to private equity-backed U.S. middle market companies, which NCDL identifies as enterprises with annual earnings before interest, taxes, depreciation, and amortization (EBITDA) generally ranging from $10.0 million to $100.0 million. Its portfolio will largely comprise what it refers to as "Senior Loans," primarily consisting of privately originated first-lien senior secured debt and unitranche loans (excluding "last-out" positions) to these performing U.S. middle market businesses. Additionally, the company selectively pursues "Junior Capital Investments," which include instruments such as second-lien loans, subordinated debt, last-out unitranche loan positions, and various equity-related securities.
Sector: Financial Services · Industry: Asset Management
Why this does not pass
- Interest-bearing debt is 207.5% 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
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 NCDL is rated Not Halal with institutional-grade analysis
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 May 2026.
No status changes recorded since we began tracking.
Tracked since May 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:
More Financial Services Stocks
Know the day NCDL's verdict changes
A free account keeps watch on 3 stocks and emails you when a verdict moves. You also get 3 questions for the AI Scholar. No card needed.
Frequently Asked Questions
Is Nuveen Churchill Direct Lending Corp. (NCDL) halal to invest in?
Why did Nuveen Churchill Direct Lending Corp. get a F compliance rating?
What could change Nuveen Churchill Direct Lending Corp.'s Shariah verdict?
How often is Nuveen Churchill Direct Lending Corp. re-screened for Shariah compliance?
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.