Working in interest related companies organizations : working as investment officer

Fatawa Question

[Question One] : Dear Dr. Kahf, I am a chartered accountant & also have done Chartered Financial Analyst (CFA). I am being offered a job in an investment company. The work I will have to do in the company involves following tasks : 1) Doing investment appraisal (flats, buildings, shares) 2) Arranging finance for my employer (some of them is equity and the remaining debt I have to arrange for my employer) 3) While arranging finance I will have to find the bank which offers best rate of interest. 4) I am expected to get high bonuses if the investment decisions prove to be right The job is very lucrative but I am worried that if I am involved in arranging debt or evaluating different debt options for my employer will it be considered dealing in "Riba" ? I will be deciding about the job after your reply.... Jazak Allah [Question Two] : Assalamu Alaykum Wa Rahmatu Allahi Wa Barakatuh Thanks a lot for your reply. Can I perceive from your answer that I can find the best bank for my employer (offering lowest rate of interest) and tell him which is the cheapest (charging lowest rate of interest) source of finance for him. By doing this I will not be considered a part of writing interest contract as long as I do not sign the loan agreement with the bank on my employers' behalf. Is my perception right ? Waiting for your reply, Jazak Allah

Fatwa

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Publication Date

2008-06-15

Main Subjects

Economics & Business Administration
Islamic Studies

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-731176

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