Fatwaa ID: 728
Mufti it is stated that it is prohibited for an individual to witness the transactions related to interest.
Mufti in current scenario most of the companies are indulged in taking loans from and paying of interest upon them even though they do HALAL business.
What is the rulings of individuals who work in the field of finance as they come across such transactions related to interest while working in such companies.
Even though the source of income of such companies are completely Halal but they do take loans and individuals working for these organisation must record & work upon such situations.
What is the ruling for such Muslims who work in the field of Finance ?
Clarification: Mufti I am asking this question in general scenario.
I am asking this regarding all the Muslims who work in the field of FINANCE & ACCOUNTS.
I do work in a perfume company as an accountant.
At times we may come across where we may need to work upon the transactions related to interest being paid by the company to the bank. It may be carrying out the payment, recording it or calculating it.
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.
We commend you for your desire to work a halaal Shari’ah compliant job. May Allaah Ta’aala place barakah on your rizq.
As you are aware, there are many sectors and aspects to finance and accounts jobs. The job description, the institution, the source of funds and other things are considered when issuing a ruling in this regard. The scope of this fatwaa would thus not cover all finance and accounts related jobs. Our answer below is in regards to your job specifically as an accountant at perfume company.
It is permissible to work as an accountant at a perfume company. You are not responsible for their interest bearing loans. Likewise, when you note these while accounting, you are not responsible nor part of their transaction. However, you must ensure that you do not advise in favor of anything impermissible. If possible, voice your opinion against such issues.
And Allaah Ta’aala knows best.
Mufti Muajul I. Chowdhury
Darul Iftaa New York
08/07/1444 AH – 02/27/2023 CE | AMG3-3426
وصل اللهم وسلم وبارك على سيدنا محمد وعلى ءاله وصحبه أجمعين
Hereunder are some advices of Mufti Taqi Uthmani (H) to accountants:
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