Fatwa ID: 22421
Title: Working in an interest-based bank when some of its activities are halal
Category: Financial Transactions
Scholar: Dr.Salah Al-Sawy
Date: 08/23/2007

Question

Peace be upon you.

 

My husband works at the Bank of Egypt (Bank Misr), which is one of the national banks in Egypt.

 

Some of the activities his work entails deal specifically with the funds for orphans, retirees, savings deposits, etc.

 

Is his money considered haram (prohibited) and he should quit his job?

 

Note that many scholars have ruled for us that this work is permissible because of the halal (lawful) aspects that serve Muslims.

 

Please let us know for the sake of Allah.


Answer

The activities of banks are numerous and varied. Some of them are a form of credit (taking and granting loans) and it is this type in which it is not permissible to be directly involved and there is no controversy in this matter.

 

Other activities are more along the lines of banking services, which are commendable services, worthy of reward, and the basic principle is that they would be halal (permissible), except for the interest involved. In any case, we advise your husband to search for an alternative, in an earnest effort to make money in a permissible way, to relieve his conscience in terms of the religion, and to seek the pleasure of Allah, the Mighty and Majestic.

 

{And whosoever fears Allah and keeps his duty to Him, He will make a way for him to get out (from every difficulty). And He will provide him from (sources) he could never imagine.}

[Al-Talaq 65:2-3]

 

And Allah Almighty is more Exalted and more Knowledgeable.