Fatwa: # 26614
Category: Business Matters
Country: United States
Date: 28th August 2013

Title

Is it permissible for me take a career as an analyst for a company in which there is potential of dealing with interest?

Question

I'm a college student currently studying criminal justice. Recently I decided i want to switch my major to economics which is essentially a business degree. Considering the fact that most jobs that  apply will either include banking/finance or working with a company as an analyst to figure out budget control or how to manage their finances will this income be halal for me?

I ask because of the potential of dealing with interest, which is haram. Those aren't the only jobs available, but those are the majority of jobs that most econ grads end up undertaking

Answer

                                                                                 

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

The general ultimate purpose of curricular studies is to create a means of income to fulfil ones needs in life.

Shariah has emphasised on adopting a pure and Halal means of income. The prophet (salallahu alaihi wasallam) says -:

 

طلب كسب الحلال فريضة بعد الفريضة

 ‘’To seek lawful earnings is an obligatory duty following other obligatory duties’’.

(Bayhaqī, Shuʿab al-īmān vol.11 pg.176 Maktabatur Rushd) 

A very crucial factor to bear in mind is that the acceptance of our ibaadaat and duas is dependent on our type of income.

The prophet (sallahu alaihi wasallam) says:-

"لا تزول قدما عبد حتى يسأل عن عمره فيما أفناه وعن علمه فيما فعل وعن ما له من أين اكتسب وفيما أنفقهs وعن جسمه فيما أبلاه " . هذا حديث حسن صحيح

(sunan tirmizhi vol. 4 pg. 418 Arisalatul alamiyah)

‘’Everyone will be incapable of moving on the day of reckoning until he is asked regarding his life and were he spent it, his knowledge and that which he acted upon, his wealth how he earned it and how he spent it, regarding his body and how he utilized it.’’

As Muslims our focus should be on our Ibaadat and the acceptability of our Ibaadat. While studying a major in economics may be interesting to you however, the opportunities available to graduates of such a qualification, will be in the conventional field which involves Banks and Corporates dealing in interest, insurance etc. You may not have much Halal and Shariah compliant opportunities of practicing upon your training.

As such you may end up violating Shariah and contaminating your income which has negative consequences to your Iman and Amaal. It is possible you may not practice on your training and waste your education. We therefore advise you to consider studying something else that will be a means of Halal income and also be a means of serving humanity.

 

And Allah Ta’āla Knows Best

Saleem Ibn Sajawal Khan

UK

Student, Darul Iftaa

Checked and Approved by,
Mufti Ebrahim Desai.

 

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