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What is the major source of funds in a bank?

Answered as per Hanafi Fiqh by Askimam.org

I am currently working in a company and got another job offer in a bank. The role is of a project manager in the technology department. The role is directly responsible for the day to day management of a small number of projects that have some degree of complexity. They are accountable for the delivery of the business and IT aspects of the project, ensuring the project is delivered on time, within budget, having realised the benefits to the business as outlined in the project Business Case.

I think the role is okay but I am not sure about how the salaries/remuneration is paid to the employees. I think if the major source of funds is through interest then this job is not correct right? How do i identify about the source of funds, i think even the HR of the company will not know this, looks like a confidential information.

Please advise me on this issue. Just to be specific the bank name is HSBC. Or shall i simply avoid it because there is a doubt? I think usually our elders say this.

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

The role of a project manager in the IT department involves no direct transaction with interest; therefore, it will be permissible to work as a project manager for the bank.[1]

The major source of income for a bank is from the depositors’ money, not from interest. Hence, it will be permissible to attain your salary from the bank on condition your profession involves no direct contact with interest.[2]

If you do not experience any major difficulties in your present job at the company, you should consider remaining there rather than working for a bank.[3]

And Allah Ta’āla Knows Best

AbdulMannan Nizami

Student Darul Iftaa
Chicago, IL, USA

Checked and Approved by,
Mufti Ebrahim Desai.

www.daruliftaa.net


[1] IT project management is the process of planning, organizing and delineating responsibility for the completion of organizations’ specific information technology  (IT) goals.

According to the Project Management Institute, project management processes are guided through five stages: initiation, planning, executing, controlling and closing. Orderly IT project management is inherent to an organization’s IT strategy and is usually under the direction of the Chief Information Officer (CIO).

[http://searchcio.techtarget.com/definition/IT-project-management]

project manager is a professional in the field of project management. Project managers can have the responsibility of the planning, execution and closing of any project, typically relating to construction industryarchitectureaerospace and defensecomputer networkingtelecommunications or software development.

[http://en.wikipedia.org/wiki/Project_manager]

[2]  [اسلام اور جدید معاشی مساءل، ج۴، ص۱۳٦، ادارۃ اسلامیت]

(الباب الثاني عشر في الهدايا والضيافات) أهدى إلى رجل شيئا أو أضافه إن كان غالب ماله من الحلال فلا بأس إلا أن يعلم بأنه حرام، فإن كان الغالب هو الحرام ينبغي أن لا يقبل الهدية، ولا يأكل الطعام إلا أن يخبره بأنه حلال ورثته أو استقرضته من رجل، كذا في الينابيع

[الفتاوي الهندية، ج٥، ص٣٤٢، دار افكر]

[فتاوي دار العلوم زكريا، ج٥، ص٦٧٥، زمزم ببلشرز]

[امداد الاحكام، ج٣، ص٥٣٣]

[3]  [فتاوي عثماني، ج٣، ص٣٩٥] 

This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

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