Fatwa #3940828 January 2018India
Working in an investment bank
Question
I am a bcom graduate..my specialisation is FINANCE ..I want to know that can i work in investment banks?? An investment bank is typically a private company that provides various financial-related and other services to individuals, corporations, and governments such as raising financial capital by underwriting or acting as the client's agent in the issuance of securities... Can u please show me the right and halal path to start my career???
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
May Allah increase your consciousness of earning halaal income. May Allah grant you halaal and wholesome income. Aameen.
In order for us to issue you a ruling, we need to know your role in the investment bank. However, the concept of underwriting is not permissible.
And Allah Ta’āla Knows Best
Muhammed Al-Ameen Bin Moulana Ismail Akoo
Student Darul Iftaa
Newcastle; KZN, South Africa
Checked and Approved by,
Mufti Ebrahim Desai.