Compliance Status
Not Halal
Screened on Oct 9, 2026 · AAOIFI Standard 21 look-through
Non-Compliant
Is Nuveen Municipal Income Fund, Inc. (NMI) halal? Not Halal. Looking through its holdings under AAOIFI Standard 21, Nuveen Municipal Income Fund, Inc. has 5% or more of its basket by weight in non-compliant holdings with a compliance score of 0/100 (Grade: F).
Quote this verdict
HalalScreener rates Nuveen Municipal Income Fund, Inc. (NMI) Not Halal, 0/100, grade F under AAOIFI Standard 21 look-through, screened Oct 9, 2026. Source: https://halalscreener.app/en/stock/NMI
Basket rule
Over the limitAn ETF is halal when non-compliant holdings stay under 5% of the basket by weight.
99% of the basket's holdings were screened individually.
NMI: Is Nuveen Municipal Income Fund, Inc. Halal?
Nuveen Municipal Income Fund, Inc.
$9.23
Market Cap: 103.9M
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About Nuveen Municipal Income Fund, Inc.
The Nuveen Municipal Income Fund, Inc. operates as a closed-end mutual fund dedicated to fixed-income investments. Established by Nuveen Investments Inc., its management is a collaborative effort between Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. The fund primarily allocates capital to the United States' fixed income markets, with a significant emphasis on municipal obligations issued by state and local government authorities. Its diversified investment portfolio includes holdings connected to various sectors such as healthcare, materials, education, civic organizations, and consumer staples. Formed on April 20, 1988, this U.S.-based fund has been in operation for decades.
Sector: Financial Services · Industry: Asset Management - Income
Shariah Compliance Status
AI Compliance Insight
PROInstitutional-grade Shariah analysis
See why NMI 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.)
- Basket-weighted haram holdings exceed 5% (99.0%)
Basket Composition
99% of basket screenedETFs are baskets of many stocks. AAOIFI-aligned rule: basket is halal when haram weight is under 5%. The purification share is the weighted prohibited-income contribution of the underlying holdings.
Top Holdings
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 Sep 2026.
No status changes recorded since we began tracking.
Tracked since Sep 2026. Updates automatically on each re-screen.
Halal Alternatives in Financial Services
This fund 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 by holdings look-through under 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. A fund is evaluated by screening its holdings under AAOIFI financial standards and weighing the result, using 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.