FAQs

Question

Why IT companies developing financial software are Shariah Compliant?

Answer

It is very difficult to get a pure business and financially compliant not only in India but across the globe too. Software companies earn their revenues by developing software for their clients (which may also be banks, insurance companies, etc.). Developing software is nowhere disallowed by our religion or disapproved by any Shariah Advisors. Software developed by such IT companies are also used in other countries like Malaysia and the Middle East where financial transactions may be based on Islamic Finance laws. Hence IT companies developing software are considered as Shariah compliant unless they are working exclusively for developing software for non-compliant businesses only.




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