Mufti Online — Madrasah Ta'leemuddeen

Is it permissible in Islam to research banking and financial sector?

Published as Doing research on banking and the financial sector

· 19 Dhuʻl-Hijjah 1440 AH1 min readEnglish

Question

Is it permissible in Islam to research banking and financial sector? I am currently researching how bank management and governance structures influence the profitability of banks. I also want to publish my research paper at the end. Is it halaal or haraam?

Answer

In our understanding, a bank revolves around haraam. The main business is usury which is a curse. Whatever accrues from this business is also accursed.

And Allah Ta'ala (الله تعالى) knows best.

Answered by
Mufti Ebrahim Salejee (Isipingo Beach)
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Questions about this ruling, answered only from the archive with sources.

Where scholars differ, it’s safer to take the more cautious view.

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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/29923
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-29923

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