ISLAMIC CAREER PLANNING - EP5 - IS INVESTMENT BANKING HARAM?

#islamicfinance #financejobs #investmentbanking #halaljobs #career #islamic
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[@khalilahmad9359]

Good job...jazakalla

[@athaullakhan650]

Thank you so much sir, jazakallah hu khaira

[@atlanticpixels3283]

What about working in the marketing department of a bank? i.e Marketing research, digital marketing, etc.

[@atiqurrahman7260]

Hi, If I work as software developer in investment bank with equity will this earning be haram?

[@ikhlasathakuria4766]

Thanks

[@solodolo786]

What about portfolio management at a private debt firm? Not directly involved in the deal process but more on the operations/accounting/analysis side?

[@unstoppableher8319]

Assalamualaikum.. brother can I work in an investment bank indirectly (on third party payroll)? The job role includes legal contract management of an investment bank but I will be on payroll of a consultancy which is not a bank or into banking system. Please guide brother. Jakaz'Allah.

[@mohammedrashid2906]

Thank

[@crete275]

He addressed 1) if someone works in banks in general, and 2) investing in banks services. I would rather not make excuse by investing in bank, I will be fine working hard to earn halal income for my family.

[@alisalexter4072]

I heard short selling is haram, buying stocks just to sell it later and buy it again at a lower price to get profit. Like in the Big Short movie I think

[@fbi8345]

bro im in sixth form and i want to do a degree apprenticeship on software engineering is it possible to do it with a company called "Broadridge financial solutions"

[@Irfan_khan99]

Assalamualikum , I work for travel and expense management ( deals with internal employee expenses audit and solving their problems) I am getting same opportunity in Goldman Sachs can I go for it ?

[@aleezafatima756]

Is working as a cfa in a company which sells halal food is fine??

[@ridakhan3446]

Is working for the big4s or investment companies like the bigrock or fidelity halal?

[@MoinUddin-kl6lc]

Assalaam ualykum Is working as research analyst on fixed income securities is halal where the work is only to deal with data of fixed income? Is working on esg bonds as research analyst halal.

[@noorshaik7873]

Assalamualaikum, is 'Mergers and Acquisitions ' a halal career option.My son is going to study Commerce/Business with Finance major and it will be good to know which direction to steer his career to, in shaa Allah.

[@stillakzo]

He mentioned M&A is halal in the video. Basically advisory boutiques

[@izyanrajput5619]

Boy...I shouldn't have opted for commerce...

[@Art_exploree]

😬same .....

[@Phoenix-O]

So what did you do?

[@ahmedhashmi3584]

Is trading online bank stocks haram? Like ally bank?

[@farchanalfaraby5059]

is working at sharia private equity absolutely permissible?

[@omarahmad681]

Exus me how big investment bank as a banker and can you work for it

[@fouzankhan]

Could you please let us whether working in IT sector (information technology) is haram in investment banking

[@futurexiv9150]

well the guy in the video said that even if your not directly dealing with investment banking yet your still kinda supporting them which is haram but am still not sure

[@ryandilmi2379]

Then, if I understand working as M&A is permissible ? If it's halal is also permissible to work as an M&A in an investment Bank ?

[@gennarocollidi1329]

He clearly said no, M&A for an investment banki is haram. However M&A for a boutique like Rothschild or Lazar is permissible

[@AbuBakar-bl4yl]

I decided to do CFA but after listening to this i would rather go for icaew now. Because main job of CFA is in portfolio management and investment banking etc Thanks for the information

[@zakariaa4507]

Same here ! What did you do instead ?

[@AbuBakar-bl4yl]

I will try to do icaew after acca.

[@islamthecreation2067]

Do your CFA brother and compliment with an islamic certification and work for a halal company in finance. Muslims need to invest albeit the halal way. Take care

[@nycto16]

lol

[@immanuelespanyard5159]

Risk analyst?

[@azmufti25]

Is working for London Stock Exchange Group Halal or Haram? If it's Halal, which roles or service lines would be permissible. The reason why I ask is because the business model is all about facilitating a market to help businesses from all industries grow. They generate their revenue from transaction fees and selling market information.

[@IFGuru]

Yes should be fine

[@ridakhan3446]

@@IFGuru sir can you please explain how working in LAZARD is allowed since it’s involved in investment banking?

[@satyamanand6830]

That's why they say there is a big difference between being 'educated' and 'literate' . In hindi we call these type of people as "padhe likhe gawar"

[@theegoat2495]

How about private equity? I know you said for IB that boutiques are ok whip bulge brackets aren’t. What are your views on private equity?

[@IFGuru]

I would avoid. I've worked closely with PE funds for years and they're not set up in a sharia compliant way. they leverage heavily as a core part of their business strategy.

[@martincachan8555]

Islamic Finance Guru thank you for your comment and this great video ! But me too I don’t understand why is it forbidden to work in a bulge bracket ? Thank you !!!!

[@thefireclownd2284]

​@@IFGuruwhat if you work at something like Advent Global Opportunities which does not use Leveraged Buy Outss?

[@mohammadnaeemuddin3503]

Not sure I follow, if investment banking is haram how is Lazard, Moelis ok because even though advisory is M&A as you yourself said that M&A is inevitably debt funded. So Lazard M&A advisory will revolve around a debt funding strategy even if Lazard isn’t funding that debt themselves.

[@nm4408]

Hi, I recently got an offer to work in investment research. They have three lines of service: equity, commercial lending and fixed income. I have expressed interest in equity research but theres no guarantee that I will be placed in this area, they may put me in other teams based on the requirements of the firm. Could you please give me your opinion on this? I have 2 days to make a decision and there arent many resources online on this subject.

[@IFGuru]

It depends what the company is itself where you have been offered a job. researching any of those three things itself is not impermissible. It is actually dealing in commercial lending or fixed income transactions which is impermissible.

[@nm4408]

@@IFGuru Thanks a lot for replying. The company is called Moodys Analytical Knowledge Services (recently rebranded to Acuity Knowledge Partners). From what I understand, investment banks and financial institutions outsource their research needs to this firm.

[@Skari222]

What do you mean by its permissible to be in advisory but not an expert?

[@IFGuru]

If you are a banking lawyer - whilst you are still just advisory - I would personally be uncomfortable with it as your sole source of work is now from advising on haram transactions. But feel free to check in with a mufti on forum.islamicfinanceguru.com/

[@mahadsodisodi1315]

Please reply to this is chartered accountancy haram in islam

[@syedaltamish2338]

Why would that be haram?😂😂

[@ehsanzahoor607]

@@syedaltamish2338 do not laugh at someone's question brother.

[@13adam131]

What about research analyst in a investmentbank

[@IFGuru]

If possible, I would avoid and work as an analyst on buy-side instead.

[@13adam131]

@@IFGuru In other words asset management division in an investment bank is permissible?

[@IFGuru]

@@13adam131 no I wouldn't say that. The asset management division is problematic for two reasons: (1) it is part of a wider institution that is engaging in a lot of non-sharia-compliant activities; and (2) the asset management divisions are often focused on selling structured products/derivatives/bonds etc to their clients so are in their own activity not permissible.

[@nycto16]

Then put all the financial system into other's hand? According to some muftis working in finance and banking is halal it just don't focus on what are you doing just take it as a job because at the end it will give you salary. Investment Banking, M&A, Hedge Funds etc are world's highest paying careers and a Muslim can't do it? Lol.

[@crazydriver7006]

if you work as an assassin is fine you are just doing your work and getting paid for it who cares about taking people's life and don't get me wrong i also dont agree with all what he said but we can not deny that there are some jobs in the finance that are related to usury directly and one should be very careful for lending a job in it

[@nycto16]

@@crazydriver7006 he almost said everything wrong simply.

[@harveyepstein8256]

money is money imma drown in this cash allah can give hellfire if he wants i accept it.