[BigMovies]

Is it permissible to study for a degree in accounting or finance which contains coursework in topics involving riba ie interest?
Moreover would it be permissible to teach finance topics containing interest as a teacher/lecturer and would the income from such teaching be halal?
Plz brothers tell me what does the Ulema have to say about this.

Jazak Allah

[BigMovies]

plz reply

[SallyIsNice5]

Asalaamu Alaikum,

Insha Allah I hope someone can reply back to you on this as this is something I would be really interested in as well. I am studying Accounting and Finance myself and obviously it does contain topics on interest and it's not something I've really thought of.

However, I have really thought of the issue regarding jobs though and decided that I don't want to work for a company or a bank etc that deals with interest as I don't consider that money to be halal. I also eliminated certain other job routes such as tourism because of the alcohol/music issues etc.

I wish I had chosen to study Islamic financing as that is now an option available in some places I think (or perhaps just an option available for your Masters).

Insha Allah someone better than me and more knowledgeable than me can help you. Ameen.

[BigMovies]

yes i would definitely like to have knowledgeable brothers reply to this may be Ml Abu Hajira may say something on this.

[mymnarorump]

A lot of fields teach anti-Islamic ideologies, such as human evolution in medicine/biology, Atheism in philosophy, etc. Learning about these things is not anti-Islamic if the purpose is to not use put into practice these haraam ideologies or to have them affect our beliefs. In fact, learning about these ideologies can help us in countering them and can aide in guiding other Muslims away from confusion and to the truth.

We were taught about riba in mathematics (how to calculate it and so on and so forth) in high school when I was there a long time ago.

[Bonioners]

Learning about riba is not haram, as long as you dont put it into practice. Many times, schools teach about un-islamic things, but its not haram to sit through these courses, as long as you dont let it affect you in a negative. I took Health Class in high school last year, and it was probably the most immoral and filthy class I ever took. They'll tell you things like, "Masturbation is a completely normal and healthy habit" and "Its perfectly healthy to date and have sexual relations as a teen, but remember, always use a condom!" and "Drugs and Alcohol can kill you, but you should still do them moderately"
But its still not haram to sit through these type of classes, as long as you dont start listening to the teacher.

As for teaching about Riba, im not sure. Personally I dont see anything wrong with it, as long as you're not taking part in Riba, or encouraging it. But wait for more knowledgeable brothers to answer

[Enliseell]

One opinion by the Murabitun shykh Abdal Qadir Sufi is very strict, he says a Muslim should never do accounting because it is kufr and you will be working implementing kufr laws. However I am sure you can get other opinions:

see
http://www.daruliftaa.com/searchresult?q=accountant

[Weislenalkata]

As other brothers have already opined - learn it otherwise you can not face it.
Lord Most High willing Satan the cursed will face a very frustrating time as this attitude becomes more and more common in Muslims that they have gathered courage to go through the trouble of learning his tricks to defeat him. I shall not be surprised if there are already examples of the same around us.

[suiviouse]

Its like asking is it allowed to study how the enemy works?

How do you expect to defeat them without knowing them?

Sun Tzu one said, knowing yourself and knowing your enemy you are assured to win a thousand battles.

How do you think Ahmed Deedat managed to convert so many Christians? Because he knew the bible inside out.

Now study the topic and if possible get more insight on Islamic finance and you should be fine as its also in huge demand...i have a friend who is about to set up an Islamic insurance company.

[dgdhgjjgj]

While it is good to have knowledge of the current system but most people study for earning a livelihood and when going for an accounting/finance degree it would become quite hard once you get to a managerial position to completely avoid riba (authorizing transactions, valuing and recommending interest based financing/investments etc..)

A related fatwa http://www.askimam.org/public/question_detail/19110

[BigMovies]

While it is good to have knowledge of the current system but most people study for earning a livelihood and when going for an accounting/finance degree it would become quite hard once you get to a managerial position to completely avoid riba (authorizing transactions, valuing and recommending interest based financing/investments etc..)

A related fatwa http://www.askimam.org/public/question_detail/19110

Jazak Allah brother for the useful fatwa

[BigMovies]

One opinion by the Murabitun shykh Abdal Qadir Sufi is very strict, he says a Muslim should never do accounting because it is kufr and you will be working implementing kufr laws. However I am sure you can get other opinions:

see
http://www.daruliftaa.com/searchresult?q=accountant

Jazak Allah brother for the useful fatwa

[BigMovies]

plz any more brothers share any relevant information.

[SallyIsNice5]

While it is good to have knowledge of the current system but most people study for earning a livelihood and when going for an accounting/finance degree it would become quite hard once you get to a managerial position to completely avoid riba (authorizing transactions, valuing and recommending interest based financing/investments etc..)

A related fatwa http://www.askimam.org/public/question_detail/19110

Asalaamu Alaikum,

I know this isn't my thread and apologies for putting in my query into this thread. I hope this doesn't offend the original poster.

I am studying Finance at Masters level and it contains topics on Foreign exchange trading, interest rates etc. I don't know if I am meant to opt for electives that are as 'halal' as possible? It's already been three weeks in though and for a Masters programme that is already a lot in a way? 1/3 of the module done etc... not that this really affects me too much as I've perfected the 'sleeping with your eyes open' pose unfortunately! However, I'm already in a group for the coursework etc and even though I can change this particular module, I still have compulsory ones in risk management.

Also speaking of livelihood, I am studying this Masters but Insha Allah my aim is to work within Islamic Banking. And in the future (Insha Allah if motherhood is something Allah Subhaanah Wa Ta'ala has planned for me), then this is a field where I could still work from home if I wanted to or even take a break from and get back into it later on etc. I am quite strict in my view that Insha Allah I will not work in a company where interest rates are being used; hence why I hope to get a job in our national Islamic Bank Insha Allah.

In this case, what are you opinions? Does it matter if my electives are about interest rates; gambling etc ( i say gambling because this whole business of FOREX trade seems like a bit of a gamble to me with the risks one takes).

[dgdhgjjgj]

Asalaamu Alaikum,

I know this isn't my thread and apologies for putting in my query into this thread. I hope this doesn't offend the original poster.

I am studying Finance at Masters level and it contains topics on Foreign exchange trading, interest rates etc. I don't know if I am meant to opt for electives that are as 'halal' as possible? It's already been three weeks in though and for a Masters programme that is already a lot in a way? 1/3 of the module done etc... not that this really affects me too much as I've perfected the 'sleeping with your eyes open' pose unfortunately! However, I'm already in a group for the coursework etc and even though I can change this particular module, I still have compulsory ones in risk management.

Also speaking of livelihood, I am studying this Masters but Insha Allah my aim is to work within Islamic Banking. And in the future (Insha Allah if motherhood is something Allah Subhaanah Wa Ta'ala has planned for me), then this is a field where I could still work from home if I wanted to or even take a break from and get back into it later on etc. I am quite strict in my view that Insha Allah I will not work in a company where interest rates are being used; hence why I hope to get a job in our national Islamic Bank Insha Allah.

In this case, what are you opinions? Does it matter if my electives are about interest rates; gambling etc ( i say gambling because this whole business of FOREX trade seems like a bit of a gamble to me with the risks one takes).

I would suggest you ask your query(s) to scholars such as at www.askimam.org, darulfiqh.com..I have no idea if studying them is in itself a problem or not, but in practice they certainly have impermissible elements..Also, searching islamqa.org is good for information as there are many answers from scholars on similar queries..

[Luisabens]

Asalaamu Alaikum,

I know this isn't my thread and apologies for putting in my query into this thread. I hope this doesn't offend the original poster.

I am studying Finance at Masters level and it contains topics on Foreign exchange trading, interest rates etc. I don't know if I am meant to opt for electives that are as 'halal' as possible? It's already been three weeks in though and for a Masters programme that is already a lot in a way? 1/3 of the module done etc... not that this really affects me too much as I've perfected the 'sleeping with your eyes open' pose unfortunately! However, I'm already in a group for the coursework etc and even though I can change this particular module, I still have compulsory ones in risk management.

Also speaking of livelihood, I am studying this Masters but Insha Allah my aim is to work within Islamic Banking. And in the future (Insha Allah if motherhood is something Allah Subhaanah Wa Ta'ala has planned for me), then this is a field where I could still work from home if I wanted to or even take a break from and get back into it later on etc. I am quite strict in my view that Insha Allah I will not work in a company where interest rates are being used; hence why I hope to get a job in our national Islamic Bank Insha Allah.

In this case, what are you opinions? Does it matter if my electives are about interest rates; gambling etc ( i say gambling because this whole business of FOREX trade seems like a bit of a gamble to me with the risks one takes).

If you don't study it then how would you fix the system or atleast keep yourself safe, or atleast it can help you when you start working in Islamic Finance. I have myself taken a few such courses and I do not see anything wrong with studying it. But, I am not a scholar so you should take my advice with a pinch of salt.