Wednesday, October 14, 2009

Conventional banking and prize bonds

Question
DEAR SIR!
My name is Danish and I want to ask you about the BANK Job. My CHACHA (Father Brother) is working on a Bank since 20 Years ago. Now, I am become TABLIGHI and I heard that BANK JOB is Haraam for all.
So, whats your FATWA on this? My CHACHA said that If I leave this JOB so, how will my home run and what about my SON?
What will happen?

2nd Question:
Whats your FATWA about the PRIZE BOND of BANK? My CHACHA said us that it is not HARAAM. Its just your LUCK?
So, whats your FATWA about this?
Answer
Wa alaikumusalam

Answer of 1st Question:

1. Conventional banking majorly based upon interest based transaction and it is the worst sin mentioned in Quran. Moreover a hadith quotes: May Allah make the person who eats interest n who provides it n even who writes the document away from his mercy. Another Hadith quotes: the flesh build by HARAM is suitable to go Hell. So due to so many Aayaat and Ahadith working in a conventional bank and nourishing children through it is strictly prohibited.

2. Islam has not restricted all fields on Muslims; it restricts only some of them to avoid individual and social detriments. Your uncle himself selected wrong field.

3. However if he offers Istigfar, Allah will accept it n Islam will have several solutions for him. He can join non interest based banking or he can serve for any other company or state bank. Though it may vary your lifestyle but sacrificing here will protect you hereafter insha Allah.

Answer of 2nd Question:

Prize bond is Haram. It’s a combination of Interest and Gamble (jua). Gamble is totally a game of luck but Allah Ta`alla prohibits it in Quran.How can we say it Halal due to such apparent reasons.

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