Contracting (not employed) at a Bank

I have a question about working in a Bank (in Australia) in the IT department, which manages the bank’s IT security. I have read your forum and other related topics on the matter.

How is to work for a bank (riba - based) in a contract role? Like for example I am an IT professional and I have services to offer and take on contracts to work on. A bank needs my services and I go on a 12month contract and work there, after which the contract either gets renewed or stopped based on the project. I get no benefits from the bank like sick leave, annual leave etc. I get paid on a per day basis on the hours I clock on into the timesheet.

The reason I ask this question, which the answer may seem obvious to, is because you have individuals who do similar activities… like there maybe a Plumbing professional, Electrical professional who work on contracts and those contracts may be at someone’s house, or possibly a RIBA-based bank where they can go and do such jobs. Isn’t my situation no different from this?

(I am sorry, I am not challenging the existing fatwas, I just wanted to understand from contract work point of view if the ruling changes)

May Allah bless you.

It’s important to note that different scholars may have varying opinions regarding working for conventional banks, even if the specific role itself is considered permissible (halal).
Some scholars argue that it may not be permissible due to the nature of conventional banking and its involvement in interest-based transactions.
However, other scholars take a more nuanced perspective, stating that if the individual’s role is halal and they are not directly engaged in haram activities or supporting them, it may be permissible to work for a bank, especially in non-Muslim majority countries where halal job opportunities may be limited.

In your case, if your role is focused on providing a generic service such as IT security and does not involve directly participating in the bank’s operations or engaging in haram activities, one opinion suggests that you can continue in your role.
However, it is worth considering seeking alternative opportunities outside of conventional banking if feasible and available, as this aligns with the preference of avoiding involvement with conventional banks from a religious perspective.

And Allah knows best!