Working in a Riba-based bank out of necessity
Fatwa No: 286372

  • Fatwa Date:26-2-2015 - Jumaadaa Al-Oula 8, 1436
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Question

Salam 3alikoum I work in a bank in the UK, I am not happy with that because of the many fatwa that said that working for a bank is forbidden (Harram), now , I am lokking to start a small business like car wash or fast food restaurant, but I can only afford to invest 20 to 30% of the capital needed. it is permitted to borrow from the banks the 70% needed, taking in consideration that in UK , only conventional bank who are lending in these type of transaction. (Islamic bank only lend to purchase a property). Please note that , I am trying to find a work somewhere else but until now I didn't succeed. I have 2 kids and expecting the third one. Jazakom allaho 7ayran. Salam Otman

Answer

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad, sallallaahu ‘alayhi wa sallam, is His slave and Messenger.

Dear Brother, you should not borrow money with Riba (usurious interest); rather, you should strive to search for a permissible form of work and stop working in a Riba-based bank.

What you mentioned in regard to Islamic banks which fund the purchase of property, this may be a legitimate alternative for you, insofar as you could buy the property and then sell it and invest the money exchanged for it on a given project. Alternatively, you could limit yourself to a project which you can finance with the money you possess at the moment.

If this is not possible, and you cannot find a job to provide for your basic needs and those of your dependents without working in the bank, then it is permissible for you to continue to work in the bank while continuously looking for a permissible form of work. Once you find such work, you must stop working in the bank immediately as necessities should be given their proper estimate. For more benefit, please refer to Fatwa 142583.

Allaah Knows best.

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