Question Summary:
Is working as a software applications developer for BNY Mellon permissible?

Question Detail:

Assalamualaikum,

Answer :

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

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

1) In order for us to advise you, we require details of the software application development. What exactly will you develop and what will the software be used for?

2) If you wish to obtain the view of the Darul Iftaa on a product claiming to be Shariah compliant, you may forward us the following:

i) Detailed explanation on the nature of the product. For example, if it is a home financing product based on a diminishing partnership contract, then explain the details of the contract, the partnership, the sale, the rental and the gradual purchase of the units.

ii) The actual contract that will be used to implement the transaction.

Once the above mentioned is presented to us, the Darul Iftaa can make its observations on the contract.

And Allah Ta‘āla Knows Best

Mehrazur Rahman

Student Darul Iftaa          

Brooklyn, NY, USA

Checked and Approved by,
Mufti Ebrahim Desai.