IT jobs for mutual and capital funds.

· 17 Dhuʻl-Hijjah 1435 AH2 min readFatwa 30492English

Question

I recently migrated to Canada and have been offered a job in an investment bank as IT professional. The bank's core business is "mutual and captial funds" and it doesn't work as a conventional bank.

My job responsibilities are to manage development of website for investors so investors can check their investment reports online or can read/download capital market researchs or documents.

I would request asking you to please let me know using Sharia's Ahkams if working as IT professional in a bank that deals in investment & wealth management categories is "Halal or Haram".

Answer

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

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

From your question we understand that you are working for a mutual fund and not a conventional bank. We also understand that mutual funds do not work in the same manner as conventional banking. However, this does not mean that mutual funds are Shariah compliant.

According to our understanding, a mutual fund pools the assets of its investors and invests the money on behalf of its investors. Therefore, the funds could be invested in any way the Board decides, regardless of it being permissible in Shariah or not.

With regards to your work profile if you are not dealing directly in the investment scheme or not requested to promote the investment scheme if it is un-Islamic through the website, but only develop and manage the scheme for investors to view their investments and related products on the website, then your work will be permissible and you will not be directly aiding in sin. [1]

The critical part of the Shariah compliancy is to determine if you will be required to advertise the scheme or upload activities to facilitate the investment scheme in the event that the product is un-Islamic. By this you will be directly aiding in sin.

And Allah Ta’āla Knows Best

Ismail Dawoodjee

Student Darul Iftaa
Zambia

Checked and Approved by,
Mufti Ebrahim Desai.

www.daruliftaa.net

For more details on accepting remunerations from non-Muslims:

References (Arabic / Urdu sources)

[1] قوله: (وجاز تعمير كنيسة) قال فى الخانية: ولو آجر نفسه ليعمل فى الكنيسة ويعمرها لا بأس به لأنه لا معصية فى عين العمل. قوله: (وحمل خمر ذمى) قال الزيلعى: وهذا عنده وقالا: هو مكروه ” لأنه عليه الصلاة والسلام {لعن فى الخمر عشرة وعد منها حاملها} “. وله أن الإجارة على الحمل وهو ليس بمعصية ، ولا سبب لها وإنما تحصل المعصية بفعل فاعل مختار. وليس الشرب من ضرورات الحمل لأن حملها قد يكون للإراقة أو للتخليل ، فصار كما إذا استأجره لعصر العنب أو قطعه. والحديث محمول على الحمل المقرون بقصد المعصية. اهـ. زاد فى النهاية وهذا قياس وقولهما استحسان. ثم قال الزيلعى: وعلى هذا الخلاف لو آجره دابة لينقل عليها الخمر أو آجره نفسه ليرعى له الخنازير يطيب له الأجر عنده وعندهما يكره . (رد المحتار ج6 ص391 سعيد)

قال (ولا بأس ببيع العصير ممن يعلم أنه يتخذه خمرا) ؛ لأن المعصية لا تقام بعينه بل بعد تغييره، بخلاف بيع السلاح في أيام الفتنة لأن المعصية تقوم بعينه. (العناية شرح الهداية، ج 6، دار الكتب العلمية)

وَحَمْلُ خَمْرٍ لِذِمِّيٍّ بِأَجْرٍ ) أَيْ جَازَ ذَلِكَ أَيْضًا ، وَهَذَا عِنْدَ أَبِي حَنِيفَةَ رَحِمَهُ اللَّهُ ، وَقَالَا هُوَ مَكْرُوهٌ ؛ لِأَنَّهُ عَلَيْهِ الصَّلَاةُ وَالسَّلَامُ لَعَنَ فِي الْخَمْرِ عَشَرَةً ، وَعَدَّ مِنْهَا حَامِلَهَا ، وَلَهُ أَنَّ الْإِجَارَةَ عَلَى الْحَمْلِ ، وَهُوَ لَيْسَ بِمَعْصِيَةٍ ، وَلَا تَسَبُّبٍ لَهَا ، وَإِنَّمَا تَحْصُلُ الْمَعْصِيَةُ بِفِعْلِ فَاعِلٍ مُخْتَارٍ ، وَلَيْسَ الشُّرْبُ مِنْ ضَرُورَاتِ الْحَمْلِ ؛ لِأَنَّ حَمْلَهَا قَدْ يَكُونُ لِلْإِرَاقَةِ أَوْ التَّخْلِيلِ فَصَارَ كَمَا لَوْ اسْتَأْجَرَهُ لِعَصْرِ الْعِنَبِ أَوْ قَطْفِهِ ، وَالْحَدِيثُ مَحْمُولٌ عَلَى الْحَمْلِ الْمَقْرُونِ بِقَصْدِ الْمَعْصِيَةِ ، وَعَلَى هَذَا الْخِلَافِ إذَا آجَرَهُ دَابَّةً لِيَنْقُلَ عَلَيْهَا الْخَمْرَ أَوْ آجَرَهُ نَفْسَهُ لِيَرْعَى لَهُ الْخَنَازِيرَ فَإِنَّهُ يَطِيبُ لَهُ الْأَجْرُ عِنْدَ أَبِي حَنِيفَةَ رَحِمَهُ اللَّهُ (تبين ج6 ص29 مكتبة امدادية

امداد الاحكام ج4 ص386 م دار العلوم كراتشي

Answered by
Ismail Dawoodjee
Checked & approved by
Mufti Ebrahim Desai
Questions about this ruling, answered only from the archive with sources.

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