Q: Is it permissible in Islam to research banking and financial sector? I am currently researching how bank management and governance structures influence the profitability of banks. I also want to publish my research paper at the end. Is it halaal or haraam?
A: In our understanding, a bank revolves around haraam. The main business is usury which is a curse. Whatever accrues from this business is also accursed.
And Allah Ta’ala (الله تعالى) knows best.
Mufti Ebrahim Salejee (Isipingo Beach)