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The Islamic Perspective; Working at a Bank

Answered according to Hanafi Fiqh by Mathabah.org

Answered by Shaykh Yūsuf Badāt

Question:

As banks are related with interest, is the salary earned by working in a bank ḥarām (islamicaly prohibited)?

Answer:

Thank you/ Jazāk Allāh Khayr for your question.

May Allāh bless you for your concern regarding permissible work in Islam.

In regards to one’s salary earned in a bank and it’s status in Islam, kindly note that if one’s work in a bank involves dealing, transacting or even promoting interest and or ribā (usury) based transactions, or any such islamically impermissible trade, then it would be impermissible, otherwise not.

“Allāh has permitted trade and has forbidden usury. Allāh will deprive usury of all blessing, and will give increase for deeds of charity.” (Qur’ān 2:275)

“The Messenger of Allāh (peace and blessings upon him) cursed the one who consumes ribā and the one who pays it, the one who writes it down and the two who witness it, and he said, they are all the same.” (Ṣaḥīḥ Muslim)

It is worthy to note that one of the reasons why interest/ ribā is forbidden in Islam is because it entails injustice by exploiting the poor of their wealth. The ribā system also involves usurping wealth of others, causing those who do not have wealth to further drown into financial debt and problems. Islam looks at the ribā system as oppression and injustice, which is forbidden in Islam in all its forms and ways.

And Allāh Knows Best

This answer was collected from Mathabah.org. It’s an Islamic educational institute based in Canada. The questions are generally answered by Sheikh Yusuf Badat and Sheikh Omar Subedar.

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