Company Monitoring Active

HSBC Holdings PLC

ISIN: GB0005405286 · Ticker: HSBA · LSE · Financial Services · United Kingdom

Operational Israeli exposure Operational exposure

45th of top 100 international arms financiers; 13th largest European creditor, 9th largest investor. Recently financed Boeing, General Dynamics, Leonardo, Lockheed Martin, Rolls-Royce, RTX. 4th largest European creditor of settlement-linked companies. Divested from Elbit in 2018 but reinvested September 2020, above our 0% threshold

7 sources · 28 evidence points · 80% confidence · updated 2026-10-02

Screening Summary 9 of 9 screens assessed

Flagged (4) Fails Sharia screening and our 0% Israel-exposure threshold

Business ActivityFail

Financial RatiosFail

Israeli-linked exposure1.0%

Conventional Finance54.0%

Passed (5) Weapons, Gambling, Alcohol, Tobacco, Adult Entertainment

Weapons0.0%

Gambling0.0%

Alcohol0.0%

Tobacco0.0%

Adult Entertainment0.0%

Sharia Assessment

Fail

Business Activity

Fail

Financial Ratios

Methodology: AAOIFI-aligned screening

Core business is conventional interest-based banking and lending — excluded at business-activity screening under AAOIFI/S&P/FTSE/MSCI.

✓ HSBC does not pass Sharia screening — core business is conventional interest-based banking (source: Annual Report, 2025)✓ Net interest income represents ~54% of total revenue (source: Annual Report, 2025)✓ HSBC asset management holds positions in companies with identified Israel operations (source: Financial Times)✓ Correspondent banking services provide indirect financial infrastructure access (source: Annual Report, 2025)✓ Campaign groups have documented HSBC investment links to Israel-connected firms (source: The Guardian, 2024)

⚖️

Disclaimer Grow Halal provides Shariah compliance screening tools for informational purposes. We do not issue fatwas or religious rulings. Consult a qualified Shariah advisor to confirm compliance for your personal circumstances.

Sources (7)

Annual Report2025-02-2195%View →

Annual Report2025-02-2185%View →

News Report2023-09-0170%

News Report2024-02-0155%

Regulatory Filing2025-02-2195%View →

Independent Research2024-06-0180%View →

Independent Research2026-10-0280%View →

Monitoring

Active

2026-10-02

Last Reviewed

2027-04-02

Next Review

Monthly

Review Cycle

Research Timeline

Research reviewed2026-10-02

Added to coverage2026-06-29

Research Timeline

2026-10-02

Research reviewed

2026-06-29

Added to coverage

Evidence Sources

Annual Report2025-02-2195%View →

Annual Report2025-02-2185%View →

News Report2023-09-0170%

News Report2024-02-0155%

Regulatory Filing2025-02-2195%View →

Independent Research2024-06-0180%View →

Independent Research2026-10-0280%View →

Confidence Breakdown

Evidence Volume

28 points

Source Diversity

7 sources

Data Freshness

Updated 2026-10-02

Screening Completeness

100% complete

Why This Assessment Could Change

△Material change in business activities or revenue composition

△Significant acquisition or new market entry

△Change in financial ratios (debt, cash, interest income)

△New evidence of involvement in excluded sectors

△Annual report or regulatory filing updates

Related Guides

How we research individual companies

Our screening methodology explained

Browse screened funds

Find funds screened for Israeli exposure and Sharia compliance

The Grow Halal Research Standard

How every investment is investigated

How We Assessed This

1Searched open-source records and the UN and AFSC lists for Israeli-linked activity

2Reviewed business activity and financial ratios against AAOIFI thresholds

3Recorded 7 supporting sources for the findings above

Read the full Research Standard →

Frequently Asked Questions

Is HSBC Holdings PLC halal to invest in?

Our current assessment is "Needs Review". This is based on business activity screening, financial ratio analysis, and ethical investigation. Individual scholars may differ — always consult your own adviser.

How often is this research updated?

We review all published research on a monthly cycle. Evidence is refreshed when annual reports, earnings, or material changes are identified.

What does the Research Score mean?

The Research Score reflects our confidence in the quality and completeness of our investigation — not a recommendation. Higher scores mean more evidence reviewed, more sources cross-validated, and more recent data.

Can I request updated research?

Yes. If you believe this assessment is outdated or have new evidence, you can request a review by emailing hello@growhalal.co.uk. We review all requests.

Learn More

Research Standard Search All Research

Related Research

Alternative Investments

Request a Review

Think this assessment needs updating? If you have new evidence or believe our research is outdated, request a review.

Request Review

✓ Grow Halal Research Standard v2.0

This investigation follows the Grow Halal Research Standard — an evidence-based methodology prioritising transparency, source diversity, and continuous monitoring. Read our methodology →