Is Banco Macro SA BMA stock halal to invest in?

No, as of August 2026, Banco Macro SA stock (BMA) is not currently classified as a Shariah compliant stock. This verdict follows the screening methodology of AAOIFI (the Accounting and Auditing Organization for Islamic Financial Institutions), whose Shariah Standard No. 21 is the leading global benchmark for screening halal stocks. To qualify as halal under this standard, a company must keep non-permissible income below 5% of total revenue, keep both interest-bearing investments and interest-bearing debt below 30% of market capitalisation, and have no impermissible preference share structure. Banco Macro SA currently does not meet the threshold for the non-permissible income and interest-bearing investments screens. Because screenings are refreshed monthly as new financial reports are published, a non-compliant stock can regain compliant status if its financial structure changes. You can track the latest status of Banco Macro SA and discover Shariah compliant alternatives among the halal stocks in the Tabadulat app.

How often is Banco Macro SA BMA reviewed for Shariah compliance?

Tabadulat reviews Banco Macro SA BMA for Shariah compliance every month. Each review applies the AAOIFI Shariah Standard No. 21 methodology, screening the company's business activities, non-permissible income, interest-bearing investments, interest-bearing debt, and preference shares, against the company's latest available financial data. The process operates under the direct supervision of Tabadulat's dedicated Shariah Supervisory Board of Islamic finance scholars. Because compliance depends on financial ratios that move with market capitalisation and reported results, a stock's status can change from one review to the next. Monthly screening ensures the status shown for Banco Macro SA reflects current financial data rather than an outdated assessment, and Tabadulat app users are notified if a holding in their portfolio becomes non-compliant.

Does Banco Macro SA BMA pass the AAOIFI Non Permissible Income criteria?

No, as of August 2026, Banco Macro SA stock (BMA) does not pass the AAOIFI non-permissible income screen. Under AAOIFI Shariah Standard No. 21, income from impermissible sources (such as interest or riba, conventional financial services, alcohol, gambling, or tobacco) must remain below 5% of a company's total revenue. Banco Macro SA's income from non-permissible sources currently exceeds this 5% ceiling, which makes the stock non-compliant on this criterion regardless of how it performs on the other screens. The screen is reassessed monthly, so the status can change when the company releases new financial statements.

Does Banco Macro SA BMA pass the AAOIFI Interest Bearing Investments criteria?

No, as of August 2026, Banco Macro SA stock (BMA) does not pass the AAOIFI interest-bearing investments screen. Under AAOIFI Shariah Standard No. 21, the cash a company places in interest-earning instruments (such as conventional deposits, bonds, treasury bills and money-market funds) must remain below 30% of its market capitalisation. Banco Macro SA's interest-bearing investments currently exceed this 30% limit, meaning too large a share of the company's value derives from riba-based instruments for the stock to qualify as halal on this criterion. The ratio moves with both the balance sheet and the share price, and is reassessed monthly.

Does Banco Macro SA BMA pass the AAOIFI Interest Bearing Debt criteria?

Yes, as of August 2026, Banco Macro SA stock (BMA) passes the AAOIFI interest-bearing debt screen. Under AAOIFI Shariah Standard No. 21, a company's borrowings that accrue interest (conventional bank loans, bonds and similar riba-based financing) must remain below 30% of its market capitalisation. This cap limits shareholders' exposure to interest-based leverage. Banco Macro SA's interest-bearing debt is currently within the 30% threshold. Because market capitalisation changes daily, a company's debt ratio can drift toward or away from the limit even without new borrowing, which is why this screen is reassessed every month.

What is the dividend purification factor for Banco Macro SA BMA stock?

Banco Macro SA (BMA) is currently classified as not Shariah compliant, so no dividend purification factor applies, because purification factors are calculated only for stocks that pass the AAOIFI screens. Purification (tazkiyah) is the practice of donating to charity the small portion of dividend income that stems from incidental non-permissible sources, such as interest earned on a compliant company's cash deposits. For non-compliant stocks the issue is not purification but eligibility: under AAOIFI Shariah Standard No. 21 the stock does not currently qualify as a halal investment. If Banco Macro SA returns to compliance in a future monthly screening, its purification factor will be published alongside its updated status in the Tabadulat app.

Does Banco Macro SA BMA pass the AAOIFI Preference Share screen?

Yes, as of August 2026, Banco Macro SA stock (BMA) passes the AAOIFI preference share screen. AAOIFI Shariah Standard No. 21 prohibits investing in preference shares because they grant holders guaranteed or priority rights to dividends and capital ahead of ordinary shareholders, a structure that conflicts with the Shariah principle that investors should share profit and loss in proportion to their ownership. Banco Macro SA has no impermissible preference share structure affecting its ordinary shares, so the stock is compliant on this criterion. Like all AAOIFI screens, this is verified in each monthly review.

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Banco Macro SA

NYSE

Shariah-Compliant

Not Shariah

BMA

About

Banco Macro SA

BMA

Banco Macro S.A. is one of Argentina's largest domestically-owned private banking groups, providing a comprehensive range of financial services to individuals, small and medium-sized enterprises, and various regional sectors. Founded in 1988, the bank has grown through acquisitions and mergers, establishing a widespread network of over 430 branches and a significant presence in numerous provinces. Banco Macro offers traditional banking products, including checking and savings accounts, credit cards, international financing, asset management, and direct banking services. Its strategic focus encompasses catering to low and mid-income individuals, SMEs, and acting as a financial agent across multiple provinces. Beyond conventional banking, the group includes subsidiaries engaged in investment management, mutual funds, fiduciary services, and fintech solutions, enhancing its role in Argentina's financial markets. As a major player, Banco Macro contributes notably to Argentina's banking sector, balancing retail and commercial banking with robust regional outreach and diversified financial activities.

Sector:

Financial Services

Industry:

Banks - Regional

Employees:

8811

Website:

https://www.macro.com.ar

BMA

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Banco Macro SA

About

Banco Macro SA

BMA

Frequently asked questions

Is Banco Macro SA BMA stock halal to invest in?

How often is Banco Macro SA BMA reviewed for Shariah compliance?

Does Banco Macro SA BMA pass the AAOIFI Non Permissible Income criteria?

Does Banco Macro SA BMA pass the AAOIFI Interest Bearing Investments criteria?

Does Banco Macro SA BMA pass the AAOIFI Interest Bearing Debt criteria?

What is the dividend purification factor for Banco Macro SA BMA stock?

Does Banco Macro SA BMA pass the AAOIFI Preference Share screen?

Can I buy Banco Macro (BMA) stock on Tabadulat?

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