Are Islamic banks really Islamic and is working in them permissible ? : Islamic banking

Fatawa Question

[Question One] : I would like to know that I am working for Citibank Pakistan. For the last 3 years I was working for their technology department. But the business wanted to project manager for their technology project and I moved to credit policies. I thought that I would be only working on the project. But they are making me work on other things as well in which I can see read interest values and might be possible in future I might have to check and sign and give approval on them…. So definitely my job will not be Halal… So I am trying to make a move to some other industry. [Question Two] : Assalam U Alikum, and Walikum Assalams Wa Rahmatullahi Wa Barakatuh, my brother Monzer thank you for your reply. Sir I have a few query I may sound to you a bit rational but please do not mind. My query to you is that I have been to your websites and several other websites and there it is said that there are many jobs in conventional banking which are Halal as you are not the signer, or witness of interest. I cannot understand this point. If I am working in a consumer bank where the main way of doing business is giving loan or selling products on loans etc. then how can my job even of a mis can be Halal when I know that the work I am doing is in a way related to interest and that due to my work the one(person) will sign the interest contract ? Or even let’s say that the IT people job in conventional banking is Halal, don’t you think that IT is the backbone of a bank and without this nothing would happen like interest deals etc. ? [Question Three] Walikum As Salams. Brother, I didn’t understand much of your text but I’ll be asking my elders to make me understand, the only reason why I am asking you these questions is not because of I being hypocrite or anything but tomorrow when we all stand in front of Allah on the judgment day and when HE asks that we in HIS name opened ways of earning interest in the name of Allah and because of us we misguided millions and just think what punishment will we get just because of the reason that we mis-guided the Ummah in the name of Islamic banking. I know Quran has said yes to KArobar and no to Riba….. [Question Four] My apologies that I hurt your feelings but believe me I didn’t had any intentions of doing it for a reason, I my self am very much confused. One small question if you don’t mind what it mean by a complete Islamic bank which follows / comply with Islamic banking and the other which might not be fully compliant are they both Halal with reference to Shariah ? Regards, ... For full Fatwa, download the PDF.

Fatwa

Click hereto view more

Publication Date

2007-03-12

Main Subjects

Economics & Business Administration
Islamic Studies

No. of Pages

5

Data Type

Fatawa

Language

English

Record ID

BIM-785017

• APA
• MLA
• AMA