Top Halal Stocks in FTSE 100 (2026 Musaffa-Screened List)

Introduction

The FTSE 100 is one of the most followed stock market indices in the world. For Muslim investors in the UK, it is often the first place they look. But by the time you remove banks, insurers, tobacco companies, alcohol producers, and high-debt energy and utilities firms, the halal slice is narrow. Around 11 of the 100 constituents are currently screened as halal on the Musaffa platform in accordance with AAOIFI Shariah screening standards as of May 2026.

This article is published by Musaffa LLC ("Musaffa"), a registered investment adviser with the U.S. Securities and Exchange Commission ("SEC"). Registration does not imply a certain level of skill or training.

IMPORTANT DISCLOSURE: The Shariah compliance screening referenced throughout this article is performed on the Musaffa platform by applying AAOIFI-adopted screening standards. Any methodologies or assessments presented are for informational purposes only and should not be relied upon as the sole basis for any investment decision. Past screening status is not indicative of future compliance status or investment performance. UK large-cap stocks carry real risks under Shariah rules and general investment principles, which are discussed further below.

What Is the FTSE 100?

The FTSE 100, often called the Footsie, is the United Kingdom's most followed stock market index. It tracks the 100 largest UK-listed companies on the London Stock Exchange by market capitalisation. It started on 3 January 1984 with a base of 1,000 and has crossed 10,000 in 2026.

The index is reviewed every quarter by FTSE Russell. Promotions and relegations between the FTSE 100 and the FTSE 250 happen based on the latest market caps. So the halal slice of the FTSE 100 also shifts each quarter.

The five largest constituents as of early 2026 are AstraZeneca, HSBC, Shell, Unilever, and Rolls-Royce. Together they make up close to 32 percent of the entire index. Of those five, only AstraZeneca is currently screened as halal on the Musaffa platform.

How this list was built

We used the Musaffa Stock Screener to check the Shariah compliance screening status of each FTSE 100 constituent under AAOIFI Shariah screening standards as applied on the Musaffa platform.

Each stock listed here has been screened as halal on the Musaffa platform in accordance with AAOIFI Shariah screening standards as of May 2026. Status can change every quarter as companies' financial ratios and business activities evolve, so always recheck before you invest. THIS SCREENING STATUS MAY NO LONGER BE CURRENT. Readers accessing this article after May 2026 must independently verify current Shariah compliance status directly through the Musaffa platform or another qualified source before making any investment decision. Musaffa does not undertake any obligation to update this article.

What is a halal large-cap stock?

A halal large-cap stock is one that passes two screens. The first is the business activity screen. The company must not earn from prohibited fields like alcohol, gambling, conventional banking, tobacco, weapons, or adult content. The second is the financial ratios screen. Debt and interest income must stay under the AAOIFI limits.

For UK large caps, the financial ratio screen is often the harder of the two. Many FTSE 100 firms run permissible businesses but carry debt levels that push them over AAOIFI thresholds. That is why the halal FTSE 100 list looks different from what investors expect.

Top 11 Halal FTSE 100 Stocks

1. AstraZeneca (LSE: AZN)

• Sector: Healthcare (Pharmaceuticals)
• Exchange: LSE Main Market

AstraZeneca is the UK’s largest listed company by market capitalization and one of the largest healthcare stocks in the UK, as well as one of the largest pharmaceutical firms in the world. Its strongest franchises are in oncology (Tagrisso, Imfinzi, Enhertu), cardiovascular and metabolism (Farxiga), respiratory, and rare diseases. Pharmaceuticals are a permissible business activity under AAOIFI standards. AstraZeneca passes AAOIFI screening standards as applied on the Musaffa platform as of May 2026. This screening result reflects a point-in-time assessment and does not constitute a recommendation to invest.

2. Rio Tinto (LSE: RIO)

• Sector: Mining and Materials
• Exchange: LSE Main Market

Rio Tinto is one of the world's largest mining groups. It produces iron ore, aluminium, copper, lithium, diamonds, borates, salt, and titanium dioxide from operations across Australia, the Americas, and Africa. Mining is generally a permissible business activity under AAOIFI standards, subject to satisfactory financial ratios. Rio Tinto passes AAOIFI screening standards as applied on the Musaffa platform as of May 2026. This screening result reflects a point-in-time assessment and does not constitute a recommendation to invest.

3. GSK plc (LSE: GSK)

• Sector: Healthcare (Pharmaceuticals)
• Exchange: LSE Main Market

GSK is a global pharmaceutical and vaccines company headquartered in Brentford. It focuses on infectious diseases, HIV, oncology, and immunology. Key products include Shingrix and Arexvy. Pharmaceuticals are a permissible business activity under AAOIFI standards. GSK passes AAOIFI screening standards as applied on the Musaffa platform as of May 2026. This screening result reflects a point-in-time assessment and does not constitute a recommendation to invest.

4. RELX plc (LSE: REL)

• Sector: Information Services and Analytics
• Exchange: LSE Main Market

RELX is a global provider of information-based analytics and decision tools for professional customers. It runs four segments: Risk, Scientific Technical & Medical, Legal, and Exhibitions. The business is heavily subscription-based and software-led, which is a permissible business activity under AAOIFI standards. RELX passes AAOIFI screening standards as applied on the Musaffa platform as of May 2026. This screening result reflects a point-in-time assessment and does not constitute a recommendation to invest.

5. Reckitt Benckiser Group (LSE: RKT)

• Sector: Consumer Goods (Hygiene and Health)
• Exchange: LSE Main Market

Reckitt owns a portfolio of household brands including Dettol, Harpic, Finish, Lysol, Nurofen, Strepsils, Gaviscon, and Durex. As one of the leading consumer goods stocks in the UK, its hygiene, health, and nutrition business is a permissible activity under AAOIFI standards. Reckitt Benckiser passes AAOIFI screening standards as applied on the Musaffa platform as of May 2026. This screening result reflects a point-in-time assessment and does not constitute a recommendation to invest.

6. Haleon plc (LSE: HLN)

• Sector: Healthcare
• Exchange: LSE Main Market

Haleon is the consumer healthcare business that was spun out of GSK in 2022. Its brands include Sensodyne, Panadol, Voltaren, Centrum, Theraflu, and Tums. Consumer healthcare is a permissible business activity under AAOIFI standards. Haleon passes AAOIFI screening standards as applied on the Musaffa platform as of May 2026. This screening result reflects a point-in-time assessment and does not constitute a recommendation to invest.

7. Associated British Foods (LSE: ABF)

• Sector: Consumer Goods (Food and Retail)
• Exchange: LSE Main Market

ABF is a diversified group with five segments: Grocery, Ingredients, Agriculture, Sugar, and Retail. The Retail segment is Primark, the budget fashion chain. ABF's grocery brands include Twinings, Ovaltine, Jordans, and Ryvita. The food and retail business is a permissible activity under AAOIFI standards. Associated British Foods passes AAOIFI screening standards as applied on the Musaffa platform as of May 2026. This screening result reflects a point-in-time assessment and does not constitute a recommendation to invest.

8. Sage Group (LSE: SGE)

• Sector: Technology (Enterprise Software)
• Exchange: LSE Main Market

Sage is a UK-headquartered software company and a leading technology sector in UK, that builds accounting, payroll, and ERP tools for small and mid-sized businesses. It is the largest UK-listed pure software firm in the FTSE 100. Enterprise software is a permissible business activity under AAOIFI standards. Sage Group passes AAOIFI screening standards as applied on the Musaffa platform as of May 2026. This screening result reflects a point-in-time assessment and does not constitute a recommendation to invest.

9. Halma plc (LSE: HLMA)

• Sector: Industrial (Safety and Environmental Technology)
• Exchange: LSE Main Market

Halma is a group of smaller engineering and technology businesses focused on safety, health, and environmental protection. It is primarily a industrial sector in UK. It owns dozens of niche brands across fire safety, water analysis, medical diagnostics, and industrial monitoring. The safety and environmental technology business is a permissible activity under AAOIFI standards. Halma passes AAOIFI screening standards as applied on the Musaffa platform as of May 2026. This screening result reflects a point-in-time assessment and does not constitute a recommendation to invest.

10. Pearson (LSE: PSON)

• Sector: Education and Publishing
• Exchange: LSE Main Market

Pearson is one of the world's largest education companies. It runs assessment, qualifications, and digital learning platforms across higher education, schools, and workforce skills. Education content and publishing are permissible business activities under AAOIFI standards. Pearson passes AAOIFI screening standards as applied on the Musaffa platform as of May 2026. This screening result reflects a point-in-time assessment and does not constitute a recommendation to invest.

11. Croda International (LSE: CRDA)

• Sector: Building and Specialty Materials (Specialty Chemicals)
• Exchange: LSE Main Market

Croda makes high-performance speciality chemicals used in personal care, life sciences, and industrial applications. The firm has a strong franchise in lipid systems used in mRNA delivery. As one of the notable building and specialty materials stocks in the UK, Specialty chemicals are a permissible business activity under AAOIFI standards. Croda passes AAOIFI screening standards as applied on the Musaffa platform as of May 2026. This screening result reflects a point-in-time assessment and does not constitute a recommendation to invest.

FTSE 100 Stocks That are Not Halal

This is where the FTSE 100 surprises many halal investors. Several of the biggest and most recognised UK names do not pass AAOIFI screening on the Musaffa platform, sometimes for reasons that are not obvious. The screening results below reflect a point-in-time assessment and do not constitute an investment recommendation.

HSBC, Barclays, Lloyds, NatWest, and Standard Chartered all fail the business activity screen. Conventional banking earns from riba. None of them are screened as halal in accordance with AAOIFI screening standards on the Musaffa platform as of May 2026.

Shell plc is classified as not halal under AAOIFI standards as applied on the Musaffa platform as of March 2026. The energy business is a permissible activity under AAOIFI standards, but Shell's interest-bearing debt and assets push the company outside AAOIFI thresholds. The same applies to BP.

British American Tobacco and Imperial Brands fail the business activity screen because tobacco is excluded under AAOIFI. Diageo fails on alcohol. None of these can be screened as halal under any plausible interpretation of AAOIFI standards.

Unilever is currently classified as doubtful on the Musaffa platform as of March 2026. Some of its revenue lines and financial ratios raise mixed concerns under AAOIFI standards.

Rolls-Royce, BAE Systems, and other aerospace and defence names face activity-screen and ratio issues. National Grid and several UK utilities carry very high interest-bearing debt and do not pass the AAOIFI financial ratio screen. Compass Group, Tesco, and Sainsbury's face various financial ratio or business mix issues.

The pattern is consistent. Either the activity screen fails (banking, alcohol, tobacco, weapons, gambling), or the financial ratio screen fails (high debt relative to market cap). For a Muslim investor looking at UK large caps, this is why halal names cluster in healthcare, consumer goods, mining, software, and analytics rather than the high-weight financial and energy sectors.

How AAOIFI screening works for UK stocks

AAOIFI screening combines two layers. The activity layer excludes companies whose core business is conventional banking, insurance, alcohol, gambling, pork, tobacco, weapons, or adult entertainment. The financial ratio layer then checks three thresholds:

1. Income from non-permissible sources stays under 5 percent of total income
2. Interest-bearing debt stays under 30 percent of market capitalisation (using a 36-month average)
3. Interest-bearing assets stay under 30 percent of market capitalisation

These checks are recalculated every quarter. UK firms often file twice a year for full results, plus interim trading updates. Status changes can happen at any of these reporting points.

UK-specific points to keep in mind

• Stamp duty. UK share purchases on the main market typically carry 0.5 percent stamp duty reserve tax. AIM shares are generally exempt, but FTSE 100 names trade on the main market.
• Dividends. Many FTSE 100 names are dividend-paying. If a company has any small share of non-permissible income within the AAOIFI 5 percent limit, scholars usually recommend purifying a proportionate share of dividends by donating it to charity.
• Currency risk. FTSE 100 stocks trade in pounds, but many earn most of their revenue in dollars or other currencies. Sterling moves affect both share price and dividend value.
• Multi-listed names. AstraZeneca and several other FTSE 100 firms are dual-listed in the US too. The screening status is the same regardless of where the shares are traded, but trading costs and tax treatment differ.

Risks unique to UK large-cap halal investing

UK large-cap halal investing comes with risks every Muslim investor should understand.

• Quarterly status changes. UK financial ratios can move on every interim or full-year report. Always recheck on the Musaffa Stock Screener before buying.
• Index reshuffles. The FTSE 100 reviews promotions and relegations every three months. A name on this list may drop to the FTSE 250 at any time. That does not change halal status, but it can affect liquidity and inclusion in passive funds.
• Concentration risk. A halal FTSE 100 portfolio leans heavily on pharmaceuticals, mining, and consumer goods. Diversification looks different from a full-index portfolio.
• Doubtful is not halal. Names like Unilever sit in the doubtful bucket. Treat that as wait-and-watch, not green-light.
• No promise of returns. A halal large-cap stock can still fall in price. Faith and finance are separate questions.

For investors looking for broader UK exposure, halal-compliant ETFs may be a simpler starting point. You can also explore options on the Musaffa ETF screener.

A simple verification method

Before you buy any name on this list, run these five checks:

• Open the stock page on the Musaffa Stock Screener and confirm halal status as of today.
• Read the firm's most recent half-year or full-year results on the company's investor relations website. Check debt and any new business lines.
• Confirm the stock is still part of the FTSE 100. Some names move down to the FTSE 250 between reviews.
• Cross-check sector and product mix for any new haram revenue lines.
• Set a reminder to recheck halal status every three to six months.

If you do this every quarter, you will catch most changes in Shariah compliance early.

Frequently asked questions

How many FTSE 100 stocks are halal in 2026?

Around 11 of the 100 constituents are currently screened as halal on the Musaffa platform as of May 2026. The exact number can change every quarter as financial ratios shift and as the FTSE 100 itself is rebalanced.

Is HSBC halal?

No. HSBC is a conventional bank and does not pass the AAOIFI business activity screen, like all major UK banks. None of HSBC, Barclays, Lloyds, NatWest, or Standard Chartered are screened as halal in accordance with AAOIFI standards as applied on the Musaffa platform.

Is Shell halal in 2026?

No. Shell is currently classified as not halal on the Musaffa platform as of March 2026. The energy business itself is a permissible activity, but Shell's interest-bearing debt and assets exceed AAOIFI thresholds. BP is also classified as not halal for the same reason.

Is Unilever halal?

Not currently. Unilever is classified as doubtful on the Musaffa platform as of March 2026. The ratios have moved closer to the AAOIFI limits, and some revenue lines raise mixed concerns under AAOIFI standards.

Is AstraZeneca halal?

AstraZeneca passes AAOIFI screening standards as applied on the Musaffa platform as of May 2026 and is the largest halal-screened name in the FTSE 100 by market capitalisation.

Are mining stocks like Rio Tinto halal?

Mining is generally a permissible business activity under AAOIFI standards, but the financial ratios determine compliance. Rio Tinto currently passes AAOIFI screening standards as applied on the Musaffa platform. Antofagasta does not as of April 2026. So the answer depends on the specific company and report period.

Is the FTSE 100 itself halal?

No. The full FTSE 100 contains banks, insurers, alcohol producers, tobacco firms, and high-debt energy and utilities companies. Passive FTSE 100 trackers are not screened as halal on the Musaffa platform. Muslim investors who want UK exposure may consider Shariah-compliant UK ETFs, or build a custom portfolio of halal-screened names. You can review options on the Musaffa ETF screener.

How often should I recheck my UK halal stocks?

At least every three months. UK firms file twice a year for full results plus interim updates, and financial ratios can move on each of these dates.

Final takeaways

The FTSE 100 is a hard index for halal investors. Banks, tobacco, alcohol, and debt-heavy oil and utilities firms eliminate most of the index by weight. What remains is around 11 strong names in pharmaceuticals, mining, consumer goods, software, and analytics.

The halal-screened large caps in this group include AstraZeneca, , RELX, Reckitt Benckiser, Haleon, Rio Tinto, and others are mature, dividend-paying, internationally diversified businesses.

But this is a starting universe, not a finished portfolio. The list is narrow, sector concentration is real, and quarterly rechecks matter even more than in larger markets like the S&P 500 or the Nasdaq 100.

If this guide helped, you may also like our complete halal investing guide on Musaffa Academy.

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Disclaimer: The content is for educational purposes only and is not a substitute for personalized advice from Musaffa. It does not constitute fatwa, legal, or tax advice, an offer, or a solicitation to buy or sell any security or investment strategy. The information is believed reliable as of publication date but may not reflect recent changes, and Musaffa does not guarantee its accuracy, completeness, or timeliness. Musaffa's Shariah compliance screening is based on AAOIFI Shariah standards. Any methodologies or assessments presented are for informational purposes only and should not be relied upon as the sole basis for any investment decision. It is important to conduct your own research or consult with a financial advisor or tax professional before making any investment decisions. All investments involve risk, and the value of securities and other investments may fluctuate due to market conditions, economic factors, or other external influences. Past performance is not indicative of future results. The views expressed are those of certain Musaffa personnel as of the publication date, are for informational purposes only, and may change without notice. They may differ from views of other areas of the firm, and any forward-looking statements are not guarantees and may not come to pass. Logos, brand names and external links are used for identification only and do not imply endorsement. For additional information and statements, see our disclaimers: https://musaffa.com/disclaimer