Shar‘i Analysis of Working in an Islamic Bank❖ Question:
Is it permissible to work in Islamic banks, particularly Meezan Bank, which claims to avoid any interest-based transactions? The bank is also endorsed by Deobandi scholars. In such a case, is working there allowed in Sharīʿah?
❖ Answer by Shaykh Ḥāfiẓ Khidr Ḥayāt (حفظه الله):
First, a correction: the word “Islām” should be spelled correctly.
There is a difference between "Islām" (religion) and "Salām" (peace).
The word "Salām" ends with the letter "mīm" (م), which "Islām" does not.
As for Meezan Bank or other so-called Islamic banks, then according to our knowledge, these institutions are Islamic only in name. In practice, their financial dealings also involve interest (ribā).
Hence, working in such banks is not permissible in Sharīʿah.
If there are scholars who guarantee that these banks are completely free from interest-based operations, and you are fully confident and satisfied with their position, then it is better to consult them directly for further guidance.
وَالله أعلم بالصواب
