International Bancshares Corporation

IBOC stock is not Shariah-compliant

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About International Bancshares Corporation (IBOC)

International Bancshares Corporation is a financial holding company providing commercial and retail banking services, including checking and saving deposits, various loans, international banking services, credit cards, Internet banking, and securities products. As of February 28, 2022, the company had 170 branch facilities and 263 ATMs serving 76 communities in Texas and Oklahoma. It was founded in 1966 and is headquartered in Laredo, Texas.

الأسئلة المتداولة

Is International Bancshares Corporation (IBOC) stock halal to invest in?
As of , IBOC is not Shariah-compliant and therefore considered halal to invest in. This assessment is based on the data available in International Bancshares Corporation's most recent financial reports.
As of , IBOC is not Shariah-compliant and therefore not considered halal to invest in. This assessment is based on the data available in International Bancshares Corporation's most recent financial reports.
As of , IBOC is flagged as not Shariah-compliant in terms of Shariah compliance based on the company's latest financial reports. This means that while the company's operations do not definitively violate Islamic guidelines, there are certain aspects of International Bancshares Corporation's business that require careful consideration.
Does International Bancshares Corporation have any interest income?
Yes, International Bancshares Corporation does have interest income. According to the company's latest annual report for the fiscal year ending Dec 31, 2023, International Bancshares Corporation reported revenue of 974086000 and interest income of 800162000. The interest income represents 45.1% of the combined total. It's worth noting that some companies may report additional interest income as part of their revenue. For a detailed breakdown of all interest income and revenue segments, please refer to the full Shariah compliance report available in the Zoya app.
No, International Bancshares Corporation has not reported any interest income. According to the company's latest annual report for the fiscal year ending Dec 31, 2023, International Bancshares Corporation reported total revenue of 974086000, with no separate interest income disclosed. However, it's worth noting that some companies may report interest income as part of their revenue. For a detailed breakdown of all interest income and revenue segments, please refer to the full Shariah compliance report available in the Zoya app.
What guidelines are used to determine if International Bancshares Corporation stock is Shariah-compliant?
We use the guidelines set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) to assess Shariah compliance. AAOIFI is a leading international organization that establishes standards for Islamic finance. Their guidelines help determine if a company's business activities and financial structure align with Islamic principles. These standards are widely respected in the Islamic finance industry and provide a consistent framework for evaluating the Shariah compliance of stocks and other financial instruments. AAOIFI's Shariah board includes renowned scholars such as Sheikh Muhammad Taqi Usmani, Sheikh Mohamed Ali Elgari, Sheikh Abdullah AlManea, Sheikh Nizam Yaquby, and Dr. Aznan Hassan.
How often is International Bancshares Corporation stock reviewed for Shariah compliance?
The Shariah compliance status of International Bancshares Corporation stock is reviewed on a regular basis, with a minimum frequency of once per quarter. However, if there are any significant changes or major developments in the company's operations that may impact its compliance, an immediate review will be conducted to ensure ongoing adherence to Shariah principles.
How can I stay updated on International Bancshares Corporation's compliance status?
To stay informed, we recommend regularly checking Zoya for updates. You can also enable alerts within the Zoya app to receive notifications whenever there is a change in the Shariah compliance of IBOC, or any other stocks you are monitoring. This is particularly useful as Shariah compliance can fluctuate due to changes in a company's financial ratios or business activities.
Are dividends from International Bancshares Corporation stock considered halal?
Yes, dividends from IBOC are considered halal. However, you may need to purify a portion of the dividend if the company has any impermissible revenue. Shariah standards typically allow up to 5% of revenue from impermissible sources for a stock to remain compliant. To find the exact percentage of impermissible revenue for International Bancshares Corporation (IBOC), check the Zoya app. For more details on the purification process, read our comprehensive guide.
No, dividends from IBOC are not considered halal because the stock is currently not Shariah-compliant. When a stock is non-compliant, any dividends received from it are considered impermissible income and should be donated to charity as a form of purification. To learn more about the purification process and how to handle impermissible income, read our comprehensive guide.
Do I need to pay Zakat on my International Bancshares Corporation shares?
If you hold International Bancshares Corporation stock as an investment, through an Employee Stock Ownership Plan (ESOP), stock options, restricted stock units (RSUs), or any other form of stock ownership, and meet the Nisab threshold, you may be required to pay Zakat on it. The calculation of Zakat on investments can be complex and depends on various factors. To help make this easy, we've created a free Zakat calculator for stocks. For a more seamless experience, use the Zoya mobile app, where you can link your brokerage account to automatically import holdings.

How to buy International Bancshares Corporation (IBOC) stock on Zoya

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