Can I Work for a Company Offering Salary Advance Loans?

Answered by Mawlana Ilyas Patel

Question

I received a job offer from fintech company MoneyLion for a Software Engineer position.

Their main product, Instacash, links users’ bank accounts and assesses loan eligibility based on transaction history. Approved loans are deducted from the next paycheck.

Disbursement options include no-fee standard delivery (2–5 business days) or instant Turbo delivery, which incurs a fee that increases with the loan amount.

The question is whether this falls under riba and if working at this company is permissible.

Answer

In the Name of Allah, the Most Merciful and Compassionate

I hope you are in good health and faith. Thank you for your question.

Yes, you can work in a fintech company as a software engineer, as your job role in itself is permissible and not related to impermissible activity.

MoneyLion is a fintech platform offering an all-in-one app for banking, borrowing, and investing to over 18 million users.

It emphasizes financial empowerment by providing tools like “InstaCash” advances, credit building, and a personalized, AI-driven content feed.

A bank earns revenue from multiple sources, some of which are permissible while others are not.

In most cases, the greater part of its income comes from lawful deposits.

On this basis, employment at a bank is permissible as long as the specific duties for which one is paid are themselves lawful. In this situation, software development is a permissible activity, and therefore, the role would be allowed.

That said, working for a bank is not ideal, as banks are involved in many practices that contravene Sharia principles.

For this reason, while it is permissible to remain in such employment, it would be preferable to seek alternative work if possible. [Usmani, Fiqh al-Buyu]

I would like you to go through the valuable answers and links below. In sha Allah, you will receive guidance and direction.

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Why not begin your search for knowledge by signing up for a course on SeekersAcademy (seekersguidance.org)

I pray this helps with your question.

[Mawlana] Ilyas Patel
Checked and Approved by Shaykh Faraz Rabbani

Mawlana Ilyas Patel has received traditional education in various countries. He started his schooling in the UK and completed his hifz of the Quran in India. After that, he joined an Islamic seminary in the UK, where he studied secular and Aalimiyya sciences. Later, he traveled to Karachi, Pakistan, and other Middle Eastern countries to further his education. Mawlana has served as an Imam in the Republic of Ireland for several years and taught the Quran and other Islamic sciences to both children and adults. He also worked as a teacher and librarian at a local Islamic seminary in the UK for 12 years. Presently, he lives in the UK with his wife and is interested in books and gardening.