Shares of a Bank

Answered by Ustadh Tabraze Azam Question: Assalam alaykum I work in a bank and as part of my work we are given employee benefits such as being able to own shares. What is the ruling regarding this? Answer: Wa alaikum assalam wa rahmatullah, No, it would not be permitted to purchase or own shares or […]

Can I Help a Bank Drive More Website Traffic?

Answered by Ustadh Salman Younas Question: I am a digital marketing professional working for an agency who has recently won a bank as a client. Is it permissible to perform updates and setting strategy with the aim of helping the bank drive more website traffic? Answer: assalamu alaykum This would be permitted although it may […]

Is It Permissible to Receive Cash Back and Travel Rewards That Are Provided by Credit Card Companies?

Answered by Ustadh Salman Younas Question: Is it allowed for us to receive incentives such as cash back (I.e 1%) and travel reward points from credit card companies? Answer: assalamu alaykum These are permitted as leading scholars, such as Mufti Taqi Usmani, have stated. They are legally viewed as being gifts. However, if they are […]

Is It Permissible to Audit Company Accounts in Which There Is Interest?

Answered by Ustadh Salman Younas Question: Is it permissible to audit company accounts in which there is interest? The auditor only checks the accounts and budgets. He does not write or partake in the interest transaction but only checks whether the accounts are correctly recorded. He is not present when the usury (riba )transaction is […]

What Should I Do About Interest Charges From Banks Earned Before I Became Muslim?

Answered by Ustadh Tabraze Azam Question: As salam alaykum, I have several bank accounts with traditional interests. My parents opened my accounts before I became Muslim. What should I do with this banking interests? Also I do not remember exactly the rates… Answer: Wa alaikum assalam wa rahmatullahi wa barakatuh, I pray that this message […]

Is It Permissible to Work on the Projects of a Riba (Usury) Based Bank?

Answered by Ustadh Salman Younas Question: We are working in the IT sector. Recently, we got a request to develop a web portal for one of the reputed Riba based Bank. Is it permissible to work on the projects of a Riba based Bank as the payments made by them may include prohibited money? Answer: […]

Bank Employment: When is it Permissible?

Answered by Mufti Muhammad ibn Adam al-Kawthari Question: As a Muslim am I allowed to work in a bank? Answer: In the name of Allah, Most Compassionate, Most Merciful, The principle concerning employment in a bank (or any other financial institution) is that any work or job that entails being directly involved in interest-based transactions […]