What is prohibited in Riba ? : involved in interest-based contracts

Fatawa Question

Dear Dr. Monzer, Assalamu Alaykum Wa Rahmatullahi Wa Barakatuh, I really like Islam online for its being such a wonderful, useful and resourceful site. May Allah help it grow and reward all of those who work for the site and for the cause of Allah Most High. I need help and sincere, brotherly advice. I live in the USA and I graduated from university about a year and half ago with a business degree. Soon after I graduated, I got a job from a major U.S bank as a personal banker. Knowing very well that Islam takes the issue of Ri?ba or interest very seriously, I took the position, thinking that since it is a renowned bank, it would be an opportunity to put my foot in the door and get hands-on experience because nobody would hire someone fresh from college and with absolutely no business background. Now that I have been working for them nearly two years, I established good sales and service skills; I have been promoted several times and even got salary increases. Subhan Allah, I am stuck in the middle of Ri?ba and I don?t know how to get out of it. Satan and some impious Muslims are telling me to stay with the bank for I am sitting in a neat office and making a good income. As a bank representative, I am directly involved in interest-based contracts such as signing documentations for personal loans, lines, mortgages, opening credit cards and interest earning checking and savings accounts. In the past few weeks I have been thinking of leaving this job once and for all for it will destroy my life in this world and in the hereafter. But I need your advice because it takes a strong decision to quit it and I think Satan is stronger than me because I feel there is something that has kept me there for almost two years. I have been considering moving to Saudi Arabia sometime future insha?allah and I hesitate to leave this job and look for another job in the U.S, because again it is Satan that is telling me to stick around for a while, save money, and sooner or later you will be moving out of the U.S.A. What should I do ? There are other Muslims who work for this and other major U.S banks and they are directly or indirectly involved in Ri?ba and we desperately need some thoughts for our consideration and I am sure most of us know fully well Islam?s stance on the issue of Ri?ba being Haram and unequivocally so. Jazakallahu Khair.

Fatwa

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Publication Date

2007-02-15

Main Subjects

Economics & Business Administration
Islamic Studies

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-785729

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