Usury
The Messenger of God said, “God condemns the one who takes, pays, witnesses, or notarizes a usurious transaction.” Abu Dawud
Does that mean working at bank is haram? Even like being a teller at some bank?
Does that mean working at bank is haram? Even like being a teller at some bank?
posted by Jibonjatri at 6:42 pm
Crazy Muslims
info@crazymuslims.tk
3 Comments:
Nice question, I work at a bank, selling a savingsproduct with 4% interest :-(( Now I start to wonder!
I used to be religious muslim. Now I am actuary. I have to say that intrest is at central to any economic system. I also believe that Kuran does not forbid intrest as it is now. Kuran forbids loan sharking. Loan sharking is forbiden in any civilized country. Intrest is inevitible. If you loan money, and you do not charge interest, than you are charging negative interest due to inflation.
Interest is definitely prohibited. I guess many of you are not aware of Islamic Finance and its existence. Even Harvard Uni hosts seminars on it and lot of research has been undertaken. I dont really agree with the theory of inflation. What will happen if deflation occurs ? We living in the west know that it has never been this easy to borrow money. People live on credit cards ... but the truth about loan is it has to be paid back. In the west, people are saving -2.2% of their income so 1 trillion dollar that US borrowed will need to be paid back. We know how stock markets can be volatile and i have seen house prices fall to unprecedented levels.
So then if someone borrowed $200k to buy a property but never repaid any of the loan then what will happen if the property is priced at 150k .. it happened in many countries. I worked in HSBC only to quit after 8 weeks. I am a Software Engineer and i was only working in IT and its wasnt directly related but i kept searching for a role and within my 3rd week i had the interview done and then the rest is history. I guess those who cant find alternative roles should keep trying and obviously dont try to make something permissible when Allah made it haram.
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