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Can Quran and Hadith allow working in Banking, Insurance, and Stock Broking?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
assalamualikum, My question is regarding doing the job in various financial services companies. I have completed MBA. So, i mostly find opportunities in Banking, Insurance and Stock Broking companies. Doing the job in such companies is permissible as per shariah? Please answer in detail with the light of Quran and Hadith.

Answer

(Fatwa: 231/231=M)

Jobs in banks and insurance companies where one has to write accounts and records of interest are haram and unlawful. If you find a job in companies apart from interest-based companies, you should write full details about them for seeking Shariah rules.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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