Fatwa

Working in a bank

Question

Is the income earned from working in a conventional bank unlawful (Haram) in Islamic jurisprudence? Since conventional banks derive a significant portion of their revenue from interest (riba)

Answer

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

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

If an individual’s job profile within the bank does not entail direct dealing with interest or something Haram, then his job and wages are Halal and permissible. Whilst interest forms a portion of the banks profit, wages are paid from monies of the bank which are mixed i.e. deposits, fees, interest etc. The majority of these funds are Halal, as such, wages will also be Halal.[1]

And Allah Ta’āla Knows Best

Mufti Bilal Pandor

Concurred by
Mufti Muhammad Patel

Darul Iftaa Mahmudiyyah
Lusaka, Zambia

www.daruliftaazambia.com

[1] Contemporary Fatawa Mufti Taqi Usmani