United Bankshares

UBSI stock is not Shariah-compliant

Powered by the Zoya API

About United Bankshares (UBSI)

United Bankshares, Inc. is a financial holding company that primarily provides commercial and retail banking products and services in the United States through its Community Banking and Mortgage Banking segments. It offers a wide range of banking products and services, including checking, savings, and retirement accounts, various types of loans, credit cards, investment and security services, and online and mobile banking. As of December 31, 2021, the company operated 250 offices across nine states in the eastern United States.

Frequently asked questions

Is United Bankshares (UBSI) stock halal to invest in?
As of , UBSI is not Shariah-compliant and therefore considered halal to invest in. This assessment is based on the data available in United Bankshares's most recent financial reports.
As of , UBSI is not Shariah-compliant and therefore not considered halal to invest in. This assessment is based on the data available in United Bankshares's most recent financial reports.
As of , UBSI 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 United Bankshares's business that require careful consideration.
Does United Bankshares have any interest income?
Yes, United Bankshares does have interest income. According to the company's latest annual report for the fiscal year ending Dec 31, 2023, United Bankshares reported revenue of 1504693000 and interest income of 1401320000. The interest income represents 48.22% 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, United Bankshares has not reported any interest income. According to the company's latest annual report for the fiscal year ending Dec 31, 2023, United Bankshares reported total revenue of 1504693000, 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 United Bankshares 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 United Bankshares stock reviewed for Shariah compliance?
The Shariah compliance status of United Bankshares 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 United Bankshares'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 UBSI, 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 United Bankshares stock considered halal?
Yes, dividends from UBSI 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 United Bankshares (UBSI), check the Zoya app. For more details on the purification process, read our comprehensive guide.
No, dividends from UBSI 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 United Bankshares shares?
If you hold United Bankshares 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 United Bankshares (UBSI) stock on Zoya

  1. Sign up for a free Zoya account
    It’s easy to get started. You can sign up for an account directly on our website or by downloading the Zoya app for iOS or Android.
  2. Link a brokerage account
    Zoya partners with leading brokerages like Alpaca and others for a seamless way to buy and manage stocks through Zoya.
  3. Decide how much to invest
    Navigate to the search screen and type the name of the stock into the search bar. Then, click the buy button and input the amount you'd like to invest, either in terms of dollars or number of shares. Review the real-time stock price and estimated quantity of shares before confirming your investment.
  4. Manage your portfolio in one place
    You can find your newly purchased stock in your Zoya portfolio alongside the rest of your holdings. Enable alerts to get notified of any changes in your portfolio's Shariah compliance.

Community posts

Related stocks

See how United Bankshares compares with its peers: