Accountant for a company that takes loan from bank on interest

Fatwa ID: 02439

Answered by: Mufti Eunus Ali

Question:

If I work in a company as an accountant and company takes loan from bank on interest basis and also give loan on interests to debtors but their main business is halal and I have to make budget of company to inform how much money they have to pay to bank and how much interest income is coming from debtors this year is my job halal or haraam remember that I was not present at actual transaction of inters but merely informing them and calculating amount they have to pay this year according to contract which already been occurred

Answer

بسم الله الرحمن الرحيم

The Quran explicitly warns against the use of interest:

يَا أَيُّهَا الَّذِينَ آمَنُوا اتَّقُوا اللَّهَ وَذَرُوا مَا بَقِيَ مِنَ الرِّبَا إِنْ كُنْتُمْ مُؤْمِنِينَ. فَإِنْ لَمْ تَفْعَلُوا فَأْذَنُوا بِحَرْبٍ مِنَ اللَّهِ وَرَسُولِهِ.

“O those who believe, fear Allah and give up what still remains of the Riba (interest) if you are believers. If you do not, then listen to the declaration of war from Allah and His Messenger.  (Surah Baqarah278 &279)

The Messenger of Allah (may peace be upon Him) cursed the one who consumes, deals, records and bears witness for interest based transactions”.[1]

Based on the above Hadith, although you may not be directly involved in the transaction of interest however the job entails keeping record as well as being witness to the transactions. Therefore this type of job needs to be abandoned and alternative job should be sought.

Only Allah knows best

Written by Mufti Eunus Ali

Checked and approved by Mufti Mohammed Tosir Miah

Darul Ifta Birmingham

Accountant for a company that takes loan from bank on interest


[1] Saheeh Muslim: 1598

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