IslamQA

Can a muslim work in a Conventional Investment Company (Not a Bank)…If you look at the financial of any company, Interest Income (RIBA) is found almost every where,

Answered according to Hanafi Fiqh by Askimam.org

I have been working in a pure Islamic Investment Company for the Past 9 years and thank Allah always for my earnings. I have recently been offered a Job as a Vice President ? Information Technology (IT Manager in simple words) in a Conventional Investment Company. The investments of this company are well diversified (not necessarly islmically acceptable): Domestic Investment (Gulf Countries) International Investment Private Equities Real Estate Investment They also do Murabaha and Ijara My major concern is that 12% of their total income is coming from Interest Income (Riba) and 19% of their Capital is in Fixed or Time Deposits. My Main Objective is: Lot of work is required in this company which will expose me to enormous experience in this field and eventually I would then like to apply that experience in Islamic Banking. Can I work in this Company? If you look at the financial of any company, Interest Income (RIBA) is found almost every where, what is the acceptable percentage of Haram Earnings in a company, acceptable for a Muslim to consider working in it?

Answer

Undoubtedly, as you have stated, your intentions are good and pure. However, since you do have a stable job from which your earnings are Halaal and there is no reason for you to leave, it will not be permissible to accept the offer of working in a conventional investment company. Outwardly, it may seem that the interest factor is a very minimum figure of 12% but you have to understand that even a fraction of interest is sufficient to destroy your life in this world as well as in the hereafter.

Be grateful to Allah Ta’ala for the work you are presently doing and always make it a point to be extremely cautious about your earnings. This is the sure way towards earning the blessings of Allah Ta’ala.

and Allah Ta’ala Knows Best

Mufti Ebrahim Desai

Original Source Link

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

Find more answers indexed from: Askimam.org
Read more answers with similar topics:
Subscribe to IslamQA Weekly Newsletter

Subscribe to IslamQA Weekly Newsletter

You will receive 5 Q&A in your inbox every week



We have sent a confirmation to you. Please check the and confirm your subscription. Thank you!