Synchrony Financial is a consumer financial services company based in the United States, founded in 1932 and headquartered in Stamford, Connecticut. The company offers a wide range of credit products, including credit cards, installment loans, and commercial credit products, as well as deposit products and specialized financing solutions for various industries such as healthcare, retail, and automotive. Synchrony Financial partners with numerous retailers, merchants, and service providers to offer its financial products and services to consumers across multiple sectors.
Frequently asked questions
Is Synchrony Financial (SYF) stock halal to invest in?
As of , SYF is not Shariah-compliant and is therefore not considered a halal investment. This assessment is based on the data available in Synchrony Financial's most recent financial reports.
Does Synchrony Financial have any interest income?
Yes, Synchrony Financial does have interest income. According to the company's latest annual report for
the fiscal year ending Dec 31, 2025, Synchrony Financial reported revenue of
$19,116,000,000 and interest income of
$22,601,000,000. The interest income represents
118.23% 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.
What guidelines are used to determine if Synchrony Financial 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 Synchrony Financial stock reviewed for Shariah compliance?
The Shariah compliance status of Synchrony Financial 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 Synchrony Financial'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 SYF,
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 Synchrony Financial stock considered halal?
No, dividends from SYF 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 Synchrony Financial shares?
If you hold Synchrony Financial 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.
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