Islam and the Quran

Working in participation banks

Question: Is it permitted to work in participation banks?

Participation banks claim to offer interest-free loans and incomes to their clients. However, due to the global conjuncture on international monetary system and the statute of national economy in most of the countries; banks do not have the possibility to work in a %100 interest-free status. This is one thing. The second problem is the negligence we experience in some participation banks when we investigate their loan contracts and leasing agreements. This is something that differs from bank to bank and something you should personally investigate.

Consequently, if you know that the loan contracts and all banking transactions are really interest-free and you feel that your bank is showing the utmost attention on this issue, you can continue working in that bank. If not, we advise you to find another job.

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