Working in interest related companies organizations : job in pricing derivatives, futures and options

Fatawa Question

Asslaamu Alaykum I'm seeking a fatwa about my future job. The job is called quantitative analytics ; my main duties are pricing derivatives : futures and options The job can be done in : a bank or in-an independent non-banking firm The clients are firms / banks or private investors who are either hedging their real positions or speculating. (I’ve read that using derivatives in order to hedge is permissible and isn't the case if one want to speculate using them) so is it permissible to work as a quantitative analyst or non ? Another question is about Qaradawi's Fatwa about working in bank even if the work is related to RIBA, according to him it is permissible to work there because if Muslims stop working in banks then non-Muslim will take control of it and this could be harmful since banks are strategic companies. (I’m not sure of this Fatawa, does it really exist and if so I want your opinion about it) thanks in advance, please reply to me when you can. Baraka Allahu fika Mehd

Fatwa

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Publication Date

2009-08-11

Main Subjects

Economics & Business Administration
Islamic Studies

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-731218

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