Bank Jobs and Riba

My topic today is inspired by a juicy bank job offer I had to reject. I was asleep in the morning when my phone rang. So I was reluctant in picking it up but when I checked, it was a name that hardly calls or not at all. So, I just had to answer. I answered and the caller asked me to take my C.V to her office and go for an aptitude test with her bank. As a senior official, she is entitled to "spots" for her candidates. With my degree in Accounting and an MBA and searching desperately for a job, I was her first choice. I was to get a management position and receive a huge salary and benefits. Juuuuiiiicy, right? Well, I declined.
I know I can only afford basics, most times going for the cheapest commodities to be able to do so but I still rejected. Why?
 The Fear of consuming haram wealth!!!
How am I consuming haram, you would ask. Well, Banks deal with a lot of businesses. Their primary business being lending out money with the condition that the money will be returned in addition to more money, usually given as a percentage of the actual money borrowed. In Banks, they call this interest; In Islam, we call it RIBA.
Another source of haram is the business investments bank make. Since they are not owned solely by Islam and certainly not guided by Islamic concepts, Banks can invest in businesses ranging from food processing plants to breweries and brothels. Which means they can invest in any type of business - haram or halal.
Being a worker there means I will have to get my salary from money made from these sources. Even if a bank invests purely in halal businesses, we cannot eliminate the element of riba in their income. In fact, it is the major source of income. It does not really matter what type of job you undertake in bank. You will be directly or indirectly contributing to the accumulation of haraam wealth.


What is Riba and why am I so afraid of it?


Riba is considered one of the gravest sins in Islam. So grave that Allah (SWT) did not give out its punishment in the world like most other sins (such as cutting off the hands of a thief or whipping or stoning of an adulterer), but instead, said of whoever consumes it, that Allah has declared war on him. As Allah said, “O you who believe, fear Allah and give up what remains of your demand for riba, if you are indeed believers. If you do it not, take notice of war from Allah and His Messenger."(Q2:278 - 279)

And also, "O you who believe! Eat not Ribâ (usury) doubled and multiplied, but fear Allâh that you may be successful."(Q3:130)

Riba can be described, in a lay man's, language as money begetting money. This means that you can simply lend out your money to someone, go to sleep, and wake up in the morning with more money at your disposal - without doing anything or taking any risk. In the case of riba, the lender does not care whether the borrower makes a profit, a loss, or even looses the entire money. The money just has to be paid.


Allah (SWT) said in His Glorious Qur'an, "Those who eat Ribâ (usury) will not stand (on the Day of Resurrection) except like the standing of a person beaten by Shaitân (Satan) leading him to insanity. That is because they say: "Trading is only like Ribâ (usury)," whereas Allâh has permitted trading and forbidden Ribâ (usury). So whosoever receives an admonition from his Lord and stops eating Ribâ (usury) shall not be punished for the past; his case is for Allâh (to judge); but whoever returns [to Ribâ (usury)], such are the dwellers of the Fire - they will abide therein." (Q2:275)
In a hadith, the Prophet (SAW) has cursed the one who consumes riba and the one who pays it, the one who writes it down and the two who witness it, and he said: they are all the same. Narrated by Muslim (1598) and reported from Jabir.


It was also reported from Abu Huraira that the Prophet (SAW) said, " I came across some people in the night in which I was taken to the heavens.Their stomachs were like houses wherein there were serpents,which could be seen from the front of the stomachs. I asked :O Gabriel! Who are these people? He replied these are those who devoured usury." Narrated by Ahmed and Ibn Majah.


Judging from the above, I am sure you will all support me in my decision to reject that offer. And if you are in my kind of position, I advice you fight Satan and wait for halal income. Insha Allah, Allah knows our intention and will help us through as he stated in the Qur'an, "And whosoever fears Allaah and keeps his duty to Him, He will make a way for him to get out (from every difficulty).
And He will provide him from (sources) he never could imagine. And whosoever puts his trust in Allaah, then He will suffice him. Verily, Allaah will accomplish his purpose. Indeed Allaah has set a measure for all things”. (Q65:2 - 3)

The Prophet (SAW) also said,“You will never give up something for the sake of Allaah, may He be glorified and exalted, but Allaah will replace it with something that is better for you than it.” Narrated by Ahmad (21996).


I will leave you with this question: Why bother about something that you will enjoy only for a little while (life in this world) knowing that you will suffer in the eternity?
THINK ABOUT IT!!! And always remember that this is a world of trials, the hereafter is where your reward will be.