Is working for an investment management company in the IT dept. halal?

Everyday Islamic Finance Business and Career Questions
#1

Asalaamu alaikum,

Apologies if this specific question has been asked before, I wasn’t able to find one of its kind.

The company in question is an investment management firm and describes itself as “investment management firm, which runs client capital in liquid and private markets” "provide long-only, alternative and private markets products.We develop bespoke solutions and fund of hedge fund services which utilise the firm’s advanced technology "

The job itself is on the IT support side - supporting the IT systems etc.

Would this job be considered halal?

Jazakallah Khair

#2

Wasalam

May Allah bless you.
First of all, the role itself might be halal (although we need more information on what the role involves).
However, the second thing we also need to look at is, what is the source of revenues of this company?
If they mainly create portfolios with haram assets, or carry out investment in a non shariah compliant way etc, then it would not be permissible to work for such firm.

And Allah knows best!

#3

Jazakallah Khair for your answer, they deal with equity, credit, commodities and currency markets. I’ve also seen that they deal in futures as well.

Would it matter at all if the haram sources of income were below a certain percentage ?

#4

If the majority of the income is halal, then it may be tolerable (again providing that the role itself does not involve any haram duties). Having said that, many scholars are against taking jobs in institutions involved in conventional finance.

And Allah knows best!