Job Question: Writing software that people would use to trade, including bonds

Everyday Islamic Finance Business and Career Questions
#1

Assalamu Alaikum,

A friend of mine asked if accepting a job that involves writing trading systems software would be permissible since bonds are traded in these trading software?

Looking forward to your reply

#2

Wasalam

May Allah bless you.

  1. Can you give provide with a job description exactly?
  2. The type of trades that take place on the system other than the bonds.
  3. Does he actually program the codes to facilitate the trades?
  4. Is he employed by a financial institution or an IT company?

Regards

#3
  • job description is basically adding features to a trading software, for bonds and other securities, used by internal traders
  • yes, there are trades other than bonds happening
  • The software he would d be writing would be to facilitate trades
  • The company is a global trading and investment banking company
#4

First of all, from the description you have given, it seems that the primarily duty is to facilitate non-shariah compliant transactions. This, in my opinion is not permissible.
Secondly, working for a conventional investment bank is not recommended by the scholars.
Therefore, it is advised that he finds himself another job if he hasn’t started this one, provided that he can manage to support himself financially until he finds a new job.

And Allah knows best!

1 Like