I would like to ask about a job role…
There is company which provides services to conventional mortgage provider bank in such a way that;
Clients in us fill form on bank website for house mortgage;
The data is assesed by financial analyst for pre-qualification of application;then
Application is for to loan officer of bank and loan officer after approving initial qualification of client refer it back to financial analyst; then
Financial analyst do required documentation including ratio analysis to finally prepare the documents of mortgage based on its assessment and forward it to underwriter or financial institution; then
Finally underwriter sanction the loan/ mortgage…
My question is that doing financial analyst job in that company is halal or Haram as he will be assisting loan/ mortgage process which is conventional. But company is saying that their earnings are from halal source.
Allah bless you
May Allah bless you.
I don’t think this sort of financial analyst role is permissible, as it seems you are involved in the whole decision process of a conventional mortgage approval.
@Mufti_Faraz_Adam might have a different opinion.
And Allah knows best!
Jazak Allah…Allah bless you
in your videos about halal jobs in the city you mentioned that working as an equity analyst for buy side companies like blackrock and fidelity would be halal. But these companies invest over 70% of their assets in fixed income instruments. Also not all of the remaining equity investments are sharia compliant. Can you please explain how it works from sharia perspective? Does it imply that some other positions in such buy side asset companies may be also permissible? The reason for my question is that I currently work for an asset management company and i am thinking about which jobs within the same company may be permissible.
Wa alaykum salaam,
What is your particular role in the firm?