Muslims in IB and also non Muslims who can give any advice or guidance please respond
I’m a practicing Muslim, and understand that working in finance is very controversial, was wondering if there are any Muslims in IB who could talk to me about what day to day life looks like and if practicing the faith is possible in IB. Also what do the conversations look like when other Muslims find out your profession.
I also acknowledge that, today’s interest is very different from the usury practices of the past and so is the currency, if you could recommend research journals that have explored this and give a better understanding of the topic I’d greatly appreciate it.
Thankyou
Bump
Also not an incoming analyst but a student and this classification thing wasn’t working so went with what I hope the future will be
Bump 🫡🫡🫡
It all depends on whether you’ve thoroughly done your due diligence on this, as the answer seems pretty self-explanatory.
First, the 80-100+ hour workweeks kind of decapitate your opportunity to have a family life, social life, and may even infringe on your opportunity to pray five times a day. If you’re signing up to grind and choose this as your end-all, be-all for 2-3 years, then it’s for you. If not, it’s not for you. There’s no “but” or special circumstance involved, you should be frank and completely honest with yourself to see whether this may be a fit for you or not.
Secondly, the practice of usury and interest on loans “is seen as perpetuating and often increasing the gap between rich and poor human beings in society.” Evaluate the reliance of the U.S. economy on debt and the widening wealth gaps in society as well, which is ever-increasing. The answer you’re looking for is through reading Islamic Finance scholars like Joe Bradford and Fatwas, and what sheikhs, or the leaders in congregation, have to say. You should read Surat Al-Baqarah, verse 200-286 and Surat Al-Imran also mentions the use of interest. Don’t just read the aya, you should also read the Tafsir as well. I recommend the Quranly application.
It’s great to see my fellow Muslim brother striving to succeed in the finance industry. Aim high and dream big, but make sure you don’t jeopardize your soul in the process by contributing to the destruction of society in specific facets of the financial industry
x
You insult something which you don’t understand. We need intellectual reform for individuals like you in society.
My guy if you’re gonna be an islamophobe at least be original don’t just copy fox word for word…….and you have it backwards immigrants don’t want to be here….America makes conditions such around the world that it drives brain drain and immigration from abroad……also population is heading towards annual death rates overtaking the birth rates and you have no cure for that accept immigration anyways……I hope you can get rid of all this hate and anger and find peace and purpose
My bank has a prayer room. I'm sure you'd be able to get your prayers in. Even if you need to catch up on missed ones slightly later in the day, like in the evening.
Re., riba, investment banking is advisory, we make our money from charging fees.
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1. Order redbull in a cup when you go out to Bars with fellow analysts
2. You can always spare 10 mins for prayer. I just use an empty office to pray in.
3. I work in Real Estate Acquisitions so the work I do isn't haram but as long as you don't own the bank, there isn't any issue in distributing loans with interest. Its kind of like a cashier who checks out Pork Products for their customers. As long as you aren't directly providing the product and just brokering the deal, you should just be fine.
4. It works in out benefits as Muslims to be Businessmen because of the manners and diplomacy our religion instills in us. So don't be nervous, I'm sure you'll crush it.
5. Have a blessed Ramadan :)
Do people keep fasts in IB?
Why not? We sit on our asses all day doing busy work. The time flies by during work and then it's time to eat. I can't imagine being a laborer and fast. Thats brutal.
If MBS (not that I think he's some kind of benchmark for Islam) can buck the trend of his predecessors and borrow in the credit markets to fund Vision 2030, then perhaps you can stretch a bit as well. At any rate, if you're in advisory vs lending, would that still be considered offside?
MBS is no benchmark for Islam. While he rules over Saudi Arabia, which happens to have the two holy mosques, he doesn’t represent Muslims through his actions (Jamal Khashoggi Assassination) and so on.
I hear you. I am not Muslim but my gf is. Agree on MBS. Best of luck
Worked with Muslim bankers, like the other comments, they're absolutely right to say the nature of IB means you may not get to pray 5 times/day. Having said that, their MDs should be completely fine with you popping out for prayer, seen people leave for 30mins for Friday prayers. Others also bring prayer mats and pray in conference rooms. Hopefully there isn't any issue with you doing so!
Don’t join a HF pod, wouldn’t want it to blow up ;)
dumb
You would think a field like PE would make an individual like this more wise, possess more cultural intelligence, and have more respect for others, especially for the fastest growing religion in the world and soon to be the largest religion in the world
Least toxic PE professional
Don't think guys like Tiger needed Allah for that one...
why do you even want to join IB
-you will take orders from many jewish bankers
-like 90% of senior PE clients you deal with will be jewish; you will need to take orders from them and devote your life to serving them/sucking up to them (see the "what its like to work with Apollo on a financing" thread)
-you will be forced to accept LGBT initiatives around the office/bank
-you will have to work with women and view them as equals
you are ok with all these things?
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