Is working in a bank haraam? Pls clarify.
Re: Working in a bank
the answer lies in a grey area. it's a matter of taqwa. in this day and age, when a meaningful employment is hard to get, it's difficult, if NOT impossible, to find an employer which does NOT engage in Rib'a [interest] which is of course Haraam in Islam to take or to give interest.
for that matter, it's also rather extremely difficult to live a life without engaging in some kinda give and take of interest. i can understand you may give the interest you receive to the poor and the needy but it's impossible to escape paying it.
the society is built on this concept which seems to work. you buy your food who buy and sell their stuff using interest. i've seen maulanas driving a leased car and living in houses which they mortgaged through a bank.
Allah is ALL forgiving and merciful. He will inshaa Allah forgive societal sins that are extremely difficult, if NOT entirely impossible, to escape from committing it.
Re: Working in a bank
Being a banker you are tasked to make money through interest. It is Haram.
Re: Working in a bank
I also would like to know whether working in a bank is haraam or not :)
It's a part of the system..What yu gonna do?
Be glad that you have employment at all in this climate?
Would you be asking the same question if you were starving with no food on the table?
Re: Working in a bank
If you are working in conventional bank then it is haram
If you are working in an islamic bank working under guidance of shariah scholar then it is not haram.
BUT the taqwa is not work in islamic bank not because of it is being haram but because that the end result of banking channel is supporting fractional reserve and kuffar.
may revert back for a detailed reply later tommorow inshallah
Re: Working in a bank
Be glad that you have employment at all in this climate? Would you be asking the same question if you were starving with no food on the table?
If employment is the only issue, then why sahaba-e-karam left their businesses to live simple life...
even if one is qualified to work as banker, he/she can still choose other jobs..even low paying ones....is it "money" all that you want??
Re: Working in a bank
my response to an earlier question.
http://www.paklinks.com/gs/religion-and-scripture/570987-interest-questions.html#post9059144
Re: Working in a bank
Until the ‘scholars’ agree on a definition of ‘Riba’, this would remain a grey area as KKF said.
Re: Working in a bank
^ scholars are agreed on what riba is, it is just we always want to find an escape goat
Re: Working in a bank
What about Islamic banks.
Besides Riba is everywhere. Businesses work on borrowing. Is there any profession which is safe from Riba. Living in Pakistan, we pay Riba to the World Bank, IMF that is when our loans aren't written off.
Re: Working in a bank
^ Our job is to refrain from direct riba and keep working on eliminating riba from society as a whole.
Inshallah will try to write a thread on common forms of riba in todays society.
Islamic banks are fine as far as primary riba is concerned, they are however involved in money creation, fractional reserve banking and thus also part of zulm on common man.
Re: Working in a bank
And how money creation, fractional reserve banking work against the common man. ??
Re: Working in a bank
If employment is the only issue, then why sahaba-e-karam left their businesses to live simple life...
even if one is qualified to work as banker, he/she can still choose other jobs..even low paying ones....is it "money" all that you want??
Next you will be asking for man o salwa from the heavens!!!
If the whole system is based on interest then what can you do? You can't exactly cut yourself of from society can you?
Lets say for one second you did try....how would you go about doing it?
Re: Working in a bank
If you are working in conventional bank then it is haram
If you are working in an islamic bank working under guidance of shariah scholar then it is not haram.
BUT the taqwa is not work in islamic bank not because of it is being haram but because that the end result of banking channel is supporting fractional reserve and kuffar.
may revert back for a detailed reply later tommorow inshallah
Even an Islamic bank invests its account holder's money in the money market on daily basis : ) and what money market is you might already know... no matter how Sharia compliance the Islamic Banking Laws are, and no matter how respectable and pious their makers are, islamic banks actually do not follow these laws to the core...
What i heard from Ulema Karam and understood is that, if you are performing core banking operations, you are always dealing with interest (except if you are exclusively working for customer accounts in an islamic bank) in this case its Haram without any doubt.
But if you are in a support position (ATM machine technician, IT infrastructure, Security, Human Resource etc) then you fall in gray area (irrespective of type of bank)
Always strive to move towards light from dark... if someone takes the first step to get out of this field, ALLAH SWT will grant him a better and HALAL position INSHA ALLAH.
Re: Working in a bank
Islamic banks can call themselves islamic when they shift their pricing mechanism from KIBOR/LIBOR, untill then, its just pseudo-compliance with sharia.
Re: Working in a bank
I heard that if you are directly associated with handling of riba, then its not halal. But any other job is ok. Lets say that you only deal with checking accounts, then I dont see how that is haram.
Re: Working in a bank
^ scholars are agreed on what riba is, it is just we always want to find an escape goat
So, what is the agreed upon definition of Riba? (with reference, if possible)