Islam Question and Answer - He works in a bank and he does not adhere to the prices for currency exchange that are given to him by the management

Mon 6/4/1431 - 22/3/2010

» What are lamam (“small faults”)? And what is the ruling on a disobedient Muslim who repeatedly commits them?.

» It is not permissible to say that you were present at a lecture from which you were absent.

» His boss gave him the job of following up on some technical drawings, and he managed to save some money on that.

» Should a man listen to his wife’s suggestions and consult her about matters?.

» Is there more reward if the congregation is greater?.

» He has a partnership in a commercial venture on the basis that every time they buy a dozen with his money, he will have ten riyals.

» How children can honour their parents.

» He got to know a girl through the internet and he wants to marry her but her father is refusing.

» The earliest time for Jumu‘ah prayer.

» Taking a sample of clothing from a store and making something similar with the intention of selling it.

78783

Principles of Fiqh » Jurisprudence and Islamic Rulings » Transactions » Business and Financial Transactions » Interest
Principles of Fiqh » Jurisprudence and Islamic Rulings » Transactions » Employment for a Salary » Prohibited Jobs
Principles of Fiqh » Jurisprudence and Islamic Rulings » Transactions » Employment for a Salary » Ruling on jobs

He works in a bank and he does not adhere to the prices for currency exchange that are given to him by the management

I work in a bank and I deal in foreign currencies, but I have a problem which is that I sell foreign currencies at the old rate of exchange and I do not use the new rate of exchange that is sent to me from the headquarters of the bank, as the new rate is sent via telephone and there is no official letter stating the rates of exchange.
My question is:
What is the ruling on my work? I want to pay zakaah on my wealth and I am not sure about this money that I am earning.

Praise be to Allaah.

We have quoted many fatwas on this site about the ruling on working in riba-based banks, which is haraam and it is not permissible to work in these banks. See the answers to questions no. 21113, 21166, 26771. Your question about working in the bank is more important than the ruling on dealing in currencies.

In addition to the fact that you are sinning by working in the bank, you are also sinning in another way, which is deceiving people at work and exchanging currencies at the old rate even though you know it has changed. It is not permissible for you to take advantage of the fact that people who are dealing with you do not know the new rate. The Prophet (peace and blessings of Allaah be upon him) said: “He who deceives us is not one of us.” Narrated by Muslim (151).

The believer should treat people in the way that he would like to be treated by them, as the Prophet (peace and blessings of Allaah be upon him) said: “None of you truly believes until he likes for his brother what he likes for himself.” Narrated by al-Bukhaari (13) and Muslim (45).

Undoubtedly you would think that the one who treated you in this manner was deceiving you and tricking you.

So you must look for permissible work, and be sincere in your dealings.

We ask Allaah to suffice us by means of that which He has permitted so that we will have no need of that which He has forbidden.

And Allaah knows best.

Islam Q&A