Question Summary:
My field of study is Economics. I look like to get some insight into whether it is permissible to work in the banking sector. There are many people who have told me that it is not permissible at any cost because of the interest factor.

Question Detail:

I am scheduled to graduate at the end of this year and my field of study is Economics. I look like to get some insight into whether it is permissible to work in the banking sector. There are many people who have told me that it is not permissible at any cost because of the interest factor. Please advise.

Answer :

In the name of Allah, Most Gracious, Most Merciful
Assalaamu `alaykum waRahmatullahi Wabarakatoh
Alhamdulillah, it is very pleasing to see that you have taken the trouble to verify whether working for the bank is permissible or not. Currently, the major trend of the people is one of carelessness in this regard. Nabi صلى الله عليه و سلم mentions in a Hadīth,
وعن أبي هريرة رضي الله عنه أن رسول الله صلى الله عليه و سلم قال يأتي على
الناس زمان لا يبالي المرء ما أخذ أمن الحلال أم من الحرام
“There will dawn a time upon the people wherein a man will not bother
 whether his earnings will be from halāl or harām (sources).”
 
In regards to your query, it is not permissible to work at a bank or any institution that is primarily involved in interest. In general, it is not permissible to assist any person, organization or company etc. in sin. Allah Ta‘ālā mentions,
 
وَتَعَاوَنُوا عَلَى الْبِرِّ وَالتَّقْوَى وَلَا تَعَاوَنُوا عَلَى الْإِثْمِ وَالْعُدْوَانِ وَاتَّقُوا اللَّهَ إِنَّ اللَّهَ شَدِيدُ الْعِقَابِ
“And assist one another in righteous actions and do not assist one another in sin and transgression. Fear Allah; verily Allah is severe in retribution.”
 
We advise that you seek such employment in the economic field that will be a means of you getting closer to Allah Ta‘ālā and serve as a means of increasing your good deeds and assisting the Ummah rather than directing your talents and energies towards assisting the bank in sin. The proceeds of such employment will be harām. Rasūlullah صلى الله عليه و سلم mentioned,
وعن كعب بن عجرة رضي الله عنه قال قال لي رسول الله صلى الله عليه و سلم
يا كعب بن عجرة إنه لا يدخل الجنة لحم ودم نبتا على سحت النار أولى به
“O Ka‘b ibn ‘Ujrah, such flesh and blood that have been nourished with harām
will not enter heaven, the fire is more befitting for them.”
We advise you to make earnest du‘ā to Allah Ta‘ālā beseeching Him to grant you a good-paying, permissible position; a position that you will be contented with. Allah is all Hearing, all Seeing and accepts the sincere prayers of His bondsmen. May Allah Ta‘ālā assist you in your quest. Amīn.
And Allah knows best
Wassalam
Ml. Yusuf bin Yaqub,
Student Darul Iftaa
Concured by:
Muhammed Zakariyya Desai,
Assistant Mufti
 Darul Iftaa, Madrassah In'aamiyyah