Is Magyar Bancorp, Inc. MGYR stock halal to invest in?

No, as of August 2026, Magyar Bancorp, Inc. stock (MGYR) 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. Magyar Bancorp, Inc. currently does not meet the threshold for the non-permissible income and interest-bearing debt 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 Magyar Bancorp, Inc. and discover Shariah compliant alternatives among the halal stocks in the Tabadulat app.

How often is Magyar Bancorp, Inc. MGYR reviewed for Shariah compliance?

Tabadulat reviews Magyar Bancorp, Inc. MGYR 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 Monthly screening ensures the status shown for Magyar Bancorp, Inc. reflects current financial data rather than an outdated assessment, and Tabadulat app users are notified if a holding in their portfolio becomes non-compliant.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 Magyar Bancorp, Inc. MGYR pass the AAOIFI Non Permissible Income criteria?

No, as of August 2026, Magyar Bancorp, Inc. stock (MGYR) 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. Magyar Bancorp, Inc.'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 Magyar Bancorp, Inc. MGYR pass the AAOIFI Interest Bearing Investments criteria?

Yes, as of August 2026, Magyar Bancorp, Inc. stock (MGYR) passes 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. This limit ensures shareholders are not materially profiting from riba (interest). Magyar Bancorp, Inc.'s interest-bearing investments are currently within the 30% threshold. Because the ratio is measured against market capitalisation, it can move with the share price as well as the balance sheet, which is why Tabadulat rescreens the stock every month.

Does Magyar Bancorp, Inc. MGYR pass the AAOIFI Interest Bearing Debt criteria?

No, as of August 2026, Magyar Bancorp, Inc. stock (MGYR) does not pass 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. Magyar Bancorp, Inc.'s interest-bearing debt currently exceeds this 30% limit, meaning the company relies on riba-based financing beyond the level AAOIFI permits for a halal investment. A company can return to compliance by reducing debt or through changes in market capitalisation, and the screen is reassessed monthly.

What is the dividend purification factor for Magyar Bancorp, Inc. MGYR stock?

Magyar Bancorp, Inc. (MGYR) 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 Magyar Bancorp, Inc. returns to compliance in a future monthly screening, its purification factor will be published alongside its updated status in the Tabadulat app.

Does Magyar Bancorp, Inc. MGYR pass the AAOIFI Preference Share screen?

Yes, as of August 2026, Magyar Bancorp, Inc. stock (MGYR) 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. Magyar Bancorp, Inc. 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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Magyar Bancorp, Inc.

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Shariah-Compliant

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MGYR

About

Magyar Bancorp, Inc.

MGYR

Magyar Bancorp Inc. is a financial institution operating as a holding company for Magyar Bank, a community-focused bank. The primary purpose of Magyar Bancorp is to provide a broad spectrum of banking services which cater to both individual customers and businesses. These services include offering savings accounts, personal loans, mortgages, and a variety of business banking products such as commercial real estate and small business loans. Additionally, Magyar Bancorp facilitates wealth management and investment services to meet diverse customer needs. Known for its regional roots, the company has a strong presence in New Jersey, promoting economic development and financial wellness within local communities. Playing a critical role in supporting small and mid-sized enterprises, Magyar Bancorp contributes significantly to the regional economy by providing essential capital through its tailored financial solutions. As a publicly traded entity, the company's performance and strategic developments are closely watched by investors and stakeholders interested in the vibrant banking sector of the northeastern United States.

Sector:

Financial Services

Industry:

Banks - Regional

Employees:

Website:

https://www.magbank.com

MGYR

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Magyar Bancorp, Inc.

About

Magyar Bancorp, Inc.

MGYR

Frequently asked questions

Is Magyar Bancorp, Inc. MGYR stock halal to invest in?

How often is Magyar Bancorp, Inc. MGYR reviewed for Shariah compliance?

Does Magyar Bancorp, Inc. MGYR pass the AAOIFI Non Permissible Income criteria?

Does Magyar Bancorp, Inc. MGYR pass the AAOIFI Interest Bearing Investments criteria?

Does Magyar Bancorp, Inc. MGYR pass the AAOIFI Interest Bearing Debt criteria?

What is the dividend purification factor for Magyar Bancorp, Inc. MGYR stock?

Does Magyar Bancorp, Inc. MGYR pass the AAOIFI Preference Share screen?

Can I buy Magyar Bancorp (MGYR) stock on Tabadulat?

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