Fatwa ID: 07385

Answered by: Maulana Abdul Malik

Question:

Is working as a low level financial advisor haram?

In the name of Allah, the Most Gracious, the Most Merciful

Answer:

Abu Hurairah narrated: “The Messenger of Allah said: ‘There will come a time when a man will not care where his wealth comes from, whether (the source is) Halal or Haram.” (Sunan Nasa’i, hadith # 4454) [1]

Seeking lawful livelihood is an obligation upon a Muslim man to take care of himself and his dependents.

Abdullah ibn Mas’ud (May Allah be pleased with him) reported Allah’s Messenger (May Allah’s peace and blessings be upon him) as saying, “Seeking to earn a lawful livelihood is an obligatory duty in addition to the duties which are obligatory.” (Mishkat al Masabih, hadith # 2781) [2]

Seeking lawful livelihood is mandatory, as a result care should be taken to ensure one’s earnings is obtained from a lawful (halal) source.

With respect to working as a financial advisor, if the entity in which the advise is given is involved in halal business and their dealings are permissible in the shariah it would be allowed to give advice to such businesses.

However, if the operations of the business is not permissible in the shariah and one is required to give advice regarding that which is unlawful it would not be permissible to work as a financial advisor for such businesses.
Allah states in the holy Quran; “And do not cooperate in sin and transgression. And be mindful of Allah. Surely Allah is severe in punishment”. (Quran 5:2)

[1] عَنْ أَبِي هُرَيْرَةَ، قَالَ قَالَ رَسُولُ اللَّهِ صلى الله عليه وسلم ‏ “‏ يَأْتِي عَلَى النَّاسِ زَمَانٌ مَا يُبَالِي الرَّجُلُ مِنْ أَيْنَ أَصَابَ الْمَالَ مِنْ حَلاَلٍ أَوْ حَرَامٍ ‏”‏ ‏.‏

[2] عَنْ عَبْدِ اللَّهِ بْنِ مَسْعُودٍ قَالَ: قَالَ رَسُولُ اللَّهِ صَلَّى اللَّهُ عَلَيْهِ وَسَلَّمَ: «طَلَبُ كَسْبِ الْحَلَالِ فَرِيضَةٌ بَعْدَ الْفَرِيضَةِ» .

Only Allah (عز و جل) knows best.

Written by Maulana Abdul Malik

Checked and approved by Mufti Mohammed Tosir Miah

Darul Ifta Birmingham