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Working as an Accountant for a company that deals in Lending loans

313 viewsAugust 7, 2023General (Misc)accountant interests lending loans

I have an opportunity to work as an Accountant for a company that deals in Lending loans (their primary income is earning interest on the loan provided). I don’t know if it is permissible to work for that company. Any guidance would be appreciated.

Bismillahi Ta’ala

Walaikum Assalam Warahmatullah

First and foremost, please review our standard response on assessing a job for its Shariah Compliancy before undertaking it. You may read about it at : https://fatwa.ca/job-in-a-software-company-whose-main-clients-are-banks/

As per your account, the company’s majority earning is from lending loan upon interest. This violates the first requirement of Shariah Compliancy of a Job.

While there is a chance that upon looking at the financials of the company you have mentioned, they may have alternate streams of shariah compliant income. We still discourage you from undertaking such a job due to the second requirement of a job befitting a Muslim.

Instead you could look into niche private accounting works where you have to do post-transactions recording for book keeping. Bookkeeping in itself is acceptable job description, as long as you make sure that majority of the income is not from non shariah compliant avenues.

Wallahu A’lam

And Allah Ta’āla Knows Best
Mufti Faisal al-Mahmudi

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