Working in brokerage firms : stock broker in a firm owned by a bank

Fatawa Question

Assalamu Alaikum Warahmatullah Dear respected scholars, I'm currently working in a stock broker, and my responsible is to do with funding such as wires, checks, and approving stock's shares for delivering to another broker. However, the firm that I worked with has owned 70 % by the commercial bank but my job has nothing to do with the interest dealing. Therefore, I would like to know if it is permissible for me to continue working for this Investment firm ? I would like my question to be answered by Shaikh Qaradawi. The reason that I want him to answer my question because I just read another Fatwa site from Saudi given by the late "Shaikh Ibn Uthaymeen (may Allaah have mercy on him) said : it is not permissible to work in a Riba-based institution even if a person is working as a driver or guard, because that means that he is working for the Riba-base institution, which implies that he approves of it. For whoever disapproves of a thing would not work to support it, so if he is working for it that implies that he approves of it, and the one who approves of something that is Haram is also guilty of sin" Therefore, I need a second opinion and ruling in this regard. Jazakallahu Khair !!!

Fatwa

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Publication Date

2002-05-29

Main Subjects

Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Banks
• Islamic jurisprudence
• Labour
• Stocks
• Corporations
• Brokers
• Brokerage

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-724850

• APA
• MLA
• AMA