Mu' meneen Brothers and Sisters,

As Salaam Aleikum wa Rahmatullahi wa Barakatuh.  (May Allah's Peace, Mercy and Blessings be upon all of you)

One of our brothers/sisters has asked this question:

assalam o alacum

i wanna know that is bank`s and insurance company`s job is right from islamic point of view as many people say that actually we r not taking interest but taking just the salary by the bank or insurance company as we`ll take in any other job.then they say which is also true that in the world theres no any country even islamic countries who r not dependent on general world banking system so how can we escape from this so pls let me know that what islam says about this

thanx
Allah hafiz 

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Answer:

Working in Bank

In the name of Allah, We praise Him, seek His help and ask for His forgiveness. Whoever Allah guides none can misguide, and whoever He allows to fall astray, none can guide them aright. We bear witness that there is no one (no idol, no person, no grave, no prophet, no imam, no dai, nobody!) worthy of worship but Allah Alone, and we bear witness that Muhammad (saws) is His slave-servant and the seal of His Messengers.

Dear and Beloved Sister in Islam, it is not that the system of banking or investment or insurance in its essence has been declared haraam in Islam; but what Allah and His Messenger (saws) have specifically and categorically declared absolutely forbidden and haraam is the concept of ‘riba’.

There is absolutely no doubt that the conventional banking and insurance system is based on the system of ‘riba’, and even though one might not involve himself in consuming ‘riba’, their working in such institutions would make them an accomplice in what has clearly been declared forbidden by Allah and His Messenger (saws).

Allah says in the Holy Quran Chapter 2 Surah Baqarah verse 274-276:

But those who devour ‘riba’ become like the one whom Shaitaan has bewitched and maddened by his touch. They have been condemned to this condition because they say, “Trade is just like ‘riba”, whereas Allah has made trade halaal and ‘riba’ haraam. Henceforth, if one abstains from taking ‘riba’ after receiving this admonition from his Lord, no legal action shall be taken against him regarding the ‘riba’ he had devoured before: his case shall ultimately go to Allah. But if one repeats the same crime even after this, he shall go to Hell, where he shall abide for ever! Allah deprives ‘riba’ of all blessing and develops charity, and Allah does not like an ungrateful, sinful person.

Allah says further in the Holy Quran Chapter 2 Surah Baqarah verse 278:

O Believers!, fear Allah and give up that ‘riba’ which is still due to you, if you are true believers. But if you do not do so, then you are warned of the declaration of war against you by Allah and His Messenger!

Allah says in the Holy Quran Chapter 4 Surah Nisa verse 161:

That they took ‘riba’, although they were forbidden. And that they devoured men’s substance wrongfully. We have prepared for those among them who reject faith a grievous punishment (of Hell Fire)!

Al-Tirmidhi Hadith 2829 Narrated by Ali ibn AbuTalib

Ali heard Allah's Messenger (saws) invoke the curse of Allah on those who took usury, those who paid it, those who recorded it, and those who refused to give sadaqah.

When Allah and His Messenger (saws) have declared something forbidden, then to derive any income from such an establishment would also be forbidden for the believers. Thus, if one is seeking employment, one should fear Allah, abstain from seeking work in a conventional bank or insurance company whose primary business is in the dealing and transacting of interest. But if one is already working in a conventional bank or an insurance company, it would be prudent for him/her to seek repentance of Allah, and search immediately for another place to employ his/her talents; and when he/she finds an appropriate job, resign from the present interest-based bank job. And if one does this move purely for the sake of Allah Subhanah, it is expected that the Bounteous Lord will enrich and provide them from His Infinite resources and give them a huge reward for their efforts to obey the commands of Allah and His Messenger (saws).

Your Question: then they say which is also true that in the world theres no any country even islamic countries who r not dependent on general world banking system so how can we escape from this

Beloved Sister, it is indeed unfortunately true that the concept and system of ‘riba’ is so prevalent and so rampant in the world today, including those nations who claim to be ‘Islamic’ countries, that regardless of how hard one tries to abstain, some of its evil ‘vapor’ might still reach them!

Sunan of Abu-Dawood Hadith 3325 Narrated by Abu Hurayrah

The Prophet (saws) prophesied: “A time is certainly coming to mankind, when only the receiver of usury will remain, and if one does not receive it, some of its vapor will reach him.”

Beloved Sister, just because an evil, which has been specifically declared as prohibited by Allah and His Messenger (saws) is rampant in the society and the world we live in, does not mean that it is permissible; nor does it mean that just because it is prevalent, the believers must whole-heartedly indulge themselves in this evil! We as believers in Allah and the Last Day are bound by our covenant of submission to Him and His Laws; and regardless of how rampant and how prevalent that abomination is in our societies, we must, as a duty, strive our utmost to abstain from it.

Allah Says in the Holy Quran Chapter 64 Surah Taghabun verses 15-16:

15 Your wealth and your children may be but a trial: but in the Presence of Allah is the Highest Reward.

16 So fear Allah as much as ye can; listen and obey; and spend in charity for the benefit of your own souls: and those saved from the covetousness of their own souls, they are the ones that achieve prosperity.

We are commanded to fear our Lord as much as we can and to the absolute best of our ability and capacity. If we have tried our absolute best to fear Allah to stay away from what He has Declared haraam, we would have fulfilled our duty towards Him and it is expected that our Lord will not question or hold us accountable for things which were beyond our control and domain.

If one trusts, obeys, and follows the guidance and commands of Allah and His Messenger (saws), one can be assured of never ever being misled; but if one believes, obeys and follows any other guidance, other than that of Allah and His Messenger (saws), one can be assured of being led astray.

Whatever written of Truth and benefit is only due to Allah’s Assistance and Guidance, and whatever of error is of me alone. Allah Alone Knows Best and He is the Only Source of Strength.

Your brother and well wisher in Islam,

Burhan