Is it permissible to work as an IT technician for an Investment bank?

Answered according to Hanafi Fiqh by Askimam.org

Is it allowed to work in an investment bank? my field is IT helpdesk. I am in a steady job but looking to move and would like to know whether I should consider working in an investment bank (as they pay more).  I will only consider this option if Muslims are allowed to work in such jobs. 

 

For example, the job could be deploying all of the PC’s with a new operating system like Windows 7.

Answer

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

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

As a principle, two aspects are considered when analysing the Shari’ah compliancy of any job:

1)     The nature of the job itself.

2)     The source of the funds from which the employees will be remunerated.

A person who works in the IT department of an investment banks is usually in charge of complex computer models, trading platforms, and communications systems.[i]  He has no direct association with the activities and trading of the bank. 

The Capital raised in an investment bank can come from private investors (who often have a high net worth), or from pools of capital obtained within the public markets. Capital obtained from public markets is normally through an initial public offering (IPO); however, special purpose acquisition companies (SPACs) are another alternative.[ii]

Working in the helpdesk of an investment bank is in itself permissible.  The job itself is free of any sinful transaction and activity.  The job does not have a direct link with the usurious transactions the bank may undertake. [iii]  Also, the bulk of the money in such a bank is of a non-usurious nature, thus it is lawful money.  The income received from such a job will be halāl.[iv]

And Allah Ta’āla Knows Best

Mawlana Faraz Ibn Adam,
Student Darul Iftaa

UK

 

Checked and Approved by,
Mufti Ebrahim Desai.
www.daruliftaa.net



[iii]  في رد المحتار على الدر المختار

(قَوْلُهُ وَجَازَ تَعْمِيرُ كَنِيسَةٍ) قَالَ فِي الْخَانِيَّةِ: وَلَوْ آجَرَ نَفْسَهُ لِيَعْمَلَ فِي الْكَنِيسَةِ وَيُعَمِّرَهَا لَا بَأْسَ بِهِ لِأَنَّهُ لَا مَعْصِيَةَ فِي عَيْنِ الْعَمَلِ (ج 6 ص 391 أيج أيم سعيد)

 

وفي الفتاوى الهندية

مُسْلِمٌ آجَرَ نَفْسَهُ مِنْ مَجُوسِيٍّ لِيُوقِدَ لَهُ النَّارَ لَا بَأْسَ بِهِ. كَذَا فِي الْخُلَاصَةِ. (ج 4 ص 450 دار الفكر)

 

وفي فتاوى قاضي خان

لو أن مسلما آجر نفسه ليعمل في الكنيسة و يعمرها لا بأس به لأنه لا معصية في عين العمل (ج 3 ص 330 دار الكتب العلمية)

 

و كذا في كتاب الفتاوى ج 5 ص 392 زمزم  

كذا و فتاوى حقانية ج 6 ص 258


 

[iv]  ففي الفتاوى الهندية

آكِلُ الرَّبَّا وَكَاسِبُ الْحَرَامِ أَهْدَى إلَيْهِ أَوْ أَضَافَهُ وَغَالِبُ مَالِهِ حَرَامٌ لَا يَقْبَلُ، وَلَا يَأْكُلُ مَا لَمْ يُخْبِرْهُ أَنَّ ذَلِكَ الْمَالَ أَصْلُهُ حَلَالٌ وَرِثَهُ أَوْ اسْتَقْرَضَهُ، وَإِنْ كَانَ غَالِبُ مَالِهِ حَلَالًا لَا بَأْسَ بِقَبُولِ هَدِيَّتِهِ وَالْأَكْلِ مِنْهَا، كَذَا فِي الْمُلْتَقَطِ. (ج 5 ص 363 دار الفكر)

 

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