I have been thinking of leaving [Investment Bank] because of interest. even though I don’t deal with interest but I read some scholars say that even working as a janitor at a bank is haraam. Recently I have been trying to get a job in [private] and I got a job offer from [private] in [private] but that also means i have to take almost 50% pay cut from what I’m earning right now. I could keep searching and see if I find something in banking that pays just as good but that would be wrong if it is haraam - I guess it would be an easy decision to accept job offer from [private] despite the pay cut if invest banking job is really haraam. Maybe you can check with Sheikh Hishaam or other scholars and advise?
Thanks again for all your help. May Allah keep us all guided on the right path and grant us good in this duniya and also Akhirah. Ameen.
Such banks are among the groups that keep bringing humanity to the brink so it is no wonder your soul sends you warning flares and it is no wonder it is difficult to leave behind their worldly incentives. The other institution would benefit from motivated and qualified Muslims.
As the hadith states: “Halal is clear and haram is clear but in between are dubious matters which many people do not know about. Stay away away from them and you will save your religion.” Another hadith states: “Leave what causes you doubt and follow what does not cause you any doubt.”
As for the question “what happens if all Muslims shun that sector” even non-Muslims know there is something called Islamic Banking now. It is our responsibility to study it and build it up, not stay on the easy road to perdition.
Hajj Gibril Haddad