Assalamu aleykum Sheikh! My question is regarding employment in the financial sector. I have a degree in finance and would like to work for islamic banks in the future, after moving to the Gulf States. Almost all jobs in islamic banking require previous experience. In Germany, where I live, there are no opportunities to work for islamic banks. I would like to know if it is permissible in Shariah to work for conventional financial institutions with an intention of gaining experience and switching to islamic finance later on. My current job is in the area of financial data management at a non-financial company, and my role is not closely related to riba transactions. Currently I have a choice to apply for a job at an asset management company, which also invests in prohibited riba instruments. My role will be then performance/risk analyst. Will I be comitting a sin and earning haram income if I take this decision? I appreciate your quick reponse, as I have to make up my mind soon. Jazaak Allahu khairan
Assalam u Alaikum Wa Rahmatullah
Although you will not be directly involved in Riba transaction in your role as performance/ risk analyst but you will be assisting a Riba based institution in carrying on its business activities. Therefore, my recommendation is to hold on to your current job until you find a job in Islamic bank. If you do not have experience then you may not get the rank that you may be looking for but you can certainly start from low and then move your way up in the Islamic financial sector Insha'Allah. In this there will be more Barakah and blessings for you Insha'Allah.
And Allah knows best.
Mufti Ikram ul Haq
Fatwa Center of America