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118294: Ruling on working in the Saudi Investment Bank


I have been offered a job in the Saudi Investment Bank as manager of sales (personal loans), for more than double the salary and benefits of my present job. After asking, it became clear that all the loans are supervised by a sharee’ah council. I hope that you could advise us as to what you think, based on your knowledge.

Praise be to Allaah.

We do not have any information about the system used in the bank mentioned. We have come across a question directed to Dr. Muhammad al-‘Usaymi (may Allah preserve him) about the ruling on working in the Saudi Bank in Branch Administration, and which banks is it permissible to work in? He replied: Rather this bank is riba-based, and it has an Islamic service. It is not permissible for you to work except in that which has a connection to the Islamic service, with the stipulation that you must adhere to the statements of the sharee’ah council. May Allah help and guide you. End quote from the shaykh’s website. 

http://www.halal2.com/ftawaDetail.asp?id=408

And Allah knows best.

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