Can I work for the London stock exchange (LSE)‎ ?

Fatawa Question

Is earning any money from the London stock exchange Halal i.e. they are not a bank where majority of the income is from Riba but an exchange and make most of their money on fixed commissions on trades and other data services. Does it matter if I am a cleaner or in the IT department ? My role is to configure IT systems to facilitate the investment banks and hedge funds to be able to match trades (blocks and allocations) with the executing and prime brokers. This is technically post trade (i.e. after the Haram trade has taken place and just needs to be matched and confirmed by both parties). Some of these trades could be CFDs, spread bets, futures, interest swaps, etc. (All Haram). Furthermore, we have the duty to send the trades to the FCA, so am I also in the role of a clerk or a witness ?

Fatwa

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Publisher

al-Qalam Shariah Scholar Panel

Publication Date

2015-01-02

Country of Publication

United Kingdom

Main Subjects

Financial and Accounting Sciences
Religion
Law
Islamic Studies

Topics

• Islamic jurisprudence
• Financial markets
• London Stock Exchange

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-726396

• APA
• MLA
• AMA