20 June 2021   9. Zul Qadah 1442

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Working in Islamic Banks

Q: I am a chartered accountant by profession and have been facing a dilemma. During my article-ship (on job training) I have been mostly posted at different types of financial institutions.

Now that I have decided to enter the industry, my CV shows significant experience of banking and other financial institutions. This has resulted in most of the job offers being made by different banks to me. In this regard, what I want to ask is

(i) Is there any permissibility for working as an employee with the bank in the capacity of an accountant or auditor?

(ii) What is your view on Islamic banks and is it allowed to join an Islamic bank in the above-mentioned capacities?
 

A: Haamidaw wa Musalliyaa

It is not permissible to work at a conventional bank as employment at such an institution generally includes involvement in interest based transactions that are totally prohibited. Working at an Islamic bank is permissible provided that the Islamic bank conducts its transactions according to the Sharia principles of Islamic banking

And Allah Ta'ala Knows Best

Shafiq Jakhura (Mufti)
Fatwa Dept.

 

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