An Accountant Negotiating Interest Transactions

Question

I’m an accountant in a Transport & Freight company. My job is to do all accounting and financing works. Sometimes I have to deal with the interest. The company purchases vehicles on bank finance, so I have to negotiate interest rate, calculate it and account it on behalf of company. 

Purchasing of vehicle not always, once a year but accounting I do every month. Is it permissible to deal with interest in this situation on behalf of  the company? 

Answer

We as Muslims are required to abstain from all interest bearing transactions as well as being associated with such transactions, to such an extent that one should not draw up documents that calculate and finalize interest bearing transactions or even negotiate with the banking institute on
behalf of the employer.

We therefore suggest that this task of negotiating with the bank etc. be passed over to another non-Muslim accountant that may be employed by the company. You should explain to your employer that as a Muslim, your religion does not allow you to negotiate these types of interest-bearing
transactions and hence you will have to excuse yourself from carrying out such transactions.

Checked and Approved By:

Mufti Muhammed Saeed Motara Saheb D.B.

References

اهدى الى رجل شيئا او اضافه ان كان غالب ماله من الحلال فلا باس الا ان يعلم بانه حرام فان كان الغالب هو الحرام ينبغى ان لا يقبل الهدية ولا يأكل الطعام الا ان يخبره بانه حلال ورثه او استقرضه من رجل كذا فى الينابيع 
(الفتاوى الهندية ص ٣٤٢ ج ٥ ) 

(الاشباه والنظائر ص ٣٠٩ ج ١ ) 

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