Is Working in a Microfinance Bank Halal?

Permissibility of Working in Microfinance Banks

Question: Is it permissible to work in a microfinance bank?

Answer: Microfinance banks are known for providing small loans to people, but they are also interest-based banks. Loans are provided on the basis of interest, so working in such a bank is akin to cooperating in interest-based transactions. Therefore, working in such a bank is prohibited in the same way as working in other interest-based banks. Consequently, the income earned through the bank would not be considered halal (permissible).

 Sheikh Maqbool Ahmed Salafi (may Allah preserve him)

❪Jeddah Dawah Center, Hayy Al-Salamah – Saudi Arabia❫