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Is it allowed to work for an industry that takes loans from Banks and repays them with interest & mark up?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
I got good opportunity to work in Bank. But I did not avail that opportunity. I am working in a manufacturing industry. Now the manufacturing industry is also based on loans taken from Banks. As a result they industry also repays its loan along with interest & mark-up. So what to do. Is this allowed. awaiting yr reply. Thanks

Answer

(Fatwa: 890/849=D-1429)

All or major parts of income sources in banks are based on interest and its employees generally have to write and conduct interest-based dealings, so their job is unlawful and their salary is not pure. On the contrary to it, if the manufacturing industry deals in halal and unlawful things, then the salary received from that company will be regarded pure and lawful, albeit the loan taken by the industry from a bank is also lawful but paying interest upon it is unlawful and haram which must be avoided by the owners of the industry as much as possible. However, jobs and salary therein are lawful.

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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