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Is it a bad idea to get a degree in finance?

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  • Is it a bad idea to get a degree in finance?

    from a western, non-Islamic university? due to the possibility of working with riba or riba money? I don't intend to work in a bank, but for a private company or for the state, and I want to avoid riba.....is this possible?

  • #2
    Re: Is it a bad idea to get a degree in finance?

    Originally posted by Striving for Janna View Post
    from a western, non-Islamic university? due to the possibility of working with riba or riba money? I don't intend to work in a bank, but for a private company or for the state, and I want to avoid riba.....is this possible?
    Difficult but possible. you can work for islamic finance. you can be work in finance department of non-profit company or you can work for finance department for privet sector making good products. But generally finance job are hard to find because it is not very narrow. Most finance graduates i have known had hard time finding any job but if you are passionate & good at it, you will find your way.

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    • #3
      Re: Is it a bad idea to get a degree in finance?

      A finance dept of non profit?You mean a philantrophic operation..

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      • #4
        Re: Is it a bad idea to get a degree in finance?

        Originally posted by Kya View Post
        Difficult but possible. you can work for islamic finance. you can be work in finance department of non-profit company or you can work for finance department for privet sector making good products. But generally finance job are hard to find because it is not very narrow. Most finance graduates i have known had hard time finding any job but if you are passionate & good at it, you will find your way.
        Not really...

        Almost companies have a finance department.

        This includes forecasting and data modelling...

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        • #5
          Is it a bad idea to get a degree in finance?

          Not really, in order to understand the prohibitions within Islamic finance you do have to have a grasp of how secular Finance works

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          • #6
            Re: Is it a bad idea to get a degree in finance?

            Originally posted by Ekoor View Post
            Not really...

            Almost companies have a finance department.

            This includes forecasting and data modelling...
            Yes all companies have finance department. The difficulties is, that is not where most finance jobs are. The easiest job for finance graduate to find is in banking, which is not halal. But that path is paved for them. Everyone knows the companies and they recruit on campus & it is really easy for student to give in and take that easy job. That is why I said, its not impossible but it is difficult mostly to resist temptation on working for a big bank.

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            • #7
              Re: Is it a bad idea to get a degree in finance?

              Originally posted by Striving for Janna View Post
              from a western, non-Islamic university? due to the possibility of working with riba or riba money? I don't intend to work in a bank, but for a private company or for the state, and I want to avoid riba.....is this possible?
              Wa alaikum salaam


              Do have a look at Tarek El Diwany's works. Highly recommended.


              He left the City after realising that in which he was engaged and now writes and consults. Known for "The problem with interest" and "Islamic banking and finance: what i is and what it could be". See http://www.kreatoczest.com/kz_publis...les-titles.htm - there are also a couple of videos of his talks online including the documentary "Why we are all in debt".


              I heard him speak some years ago at LSE and elsewhere in London and, for me, the penny finally dropped regarding the beauty of Allah SWT's Guidance in this arena. Indeed not that we should feel we ought to understand to our satisfaction before obeying..

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