Question Summary:
I’m working in software development company which focus on developing softwares for ‘Derivatives & commodities Back office solutions’ & ‘Margin Financing for Eqtuties’.You’ve given Fatwa that ‘Derivatives is haram’ . So is it permissible to work in this software developement company?

Question Detail:

I'm working in software development company which focus on developing softwares for 'Derivatives & commodities Back office solutions' & 'Margin Financing for Eqtuties'. Those softwares will be sold to banks. And we need to support and amend some transactions includes Interest transaction time to time. You've given Fatwa that 'Derivatives is haram' . So is it permissible to work in this software developement company?

Answer :

In the name of Allah, Most Gracious, Most Merciful
Assalaamu `alaykum waRahmatullahi Wabarakatoh
The ruling regarding working in the software development company mentioned in the query will depend on the nature of the company:
·        If the sole purpose of the company is to develop software for Banks and other unislamic financial institutes, then it will be haraam (impermissible) to work for such a company.
·        If the company develops all kinds of software and also develops software for banks and other unislamic financial institutions, then it will makrooh tahrimi (very undesirable) to work for such a company.
(Jawahir al-Fiqh Vol.2 Pg.459-462 – Maktaba Dar al-Uloom Karachi)
In both cases, it will be advisable to look for another job which is Shari’a compliant. However, you could continue with your present job until you find a suitable job and keep repenting to Allah Ta’ala for being involved in something impermissible.
And Allah knows best
Wassalam
Ml. Abu Yahya,
Student Darul Iftaa
Checked and Approved by:
Mufti Ebrahim Desai
Darul Iftaa, Madrassah In'aamiyyah