Question Summary: In this instance where my ultimate goal is to work in Islamic Finance would it be permissible for me to work for a non shariah compliant bank/investment company? Question Detail:
I am currently working for an investment company, mainly dealing in administration of pension schemes. This does sometimes involve working out interest owed on loans or borrowings and also administrating their investments in non shariah compliant products. Although I do not provide any advice at all, merely carry out there instructions and ensure they adhere to the regulations. Is this Job Permissible? Finally i am doing this job whilst studying for some qualifications with an ambition to study in Islamic Finance before working in the Islamic finance sector. However I have found that not many Islamic finance specialist companies would take on, someone like me who has a lack of experience in the banking and finance arena. Thus in order to get this experience I would need to possibly work for a year or 2 for a traditional UK bank or Investment Company to gain this experience even though I would have the Islamic finance qualifications. I am prepared to go to the Middle East where they do take on junior staff, but again it is very difficult as they are more likely to take on their own national first. In this instance where my ultimate goal is to work in Islamic Finance would it be permissible for me to work for a non shariah compliant bank/investment company?
Answer :
In the name of Allah, Most Gracious, Most Merciful Assalaamu `alaykum waRahmatullahi Wabarakatoh 1. Interest is explicitly prohibited in Shariah. Allah Ta’ala says: الَّذِينَ يَأْكُلُونَ الرِّبَا لَا يَقُومُونَ إِلَّا كَمَا يَقُومُ الَّذِي يَتَخَبَّطُهُ الشَّيْطَانُ مِنَ الْمَسِّ ذ¡
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