A Muslim concerned about his income asks:

I am an accountant that presents the financial statements of my organization to my employers. The banks pays interests (riba) on the company’s funds (the company is involved in halal business) saved with the banks and in the periodic statements they (the bank) send to us (accountant and my employers) they show clearly the analysis of the transaction my organisation has done with them over the period.

In the normal accounting profession, we are supposed to report this interest (riba) as well as all other transactions in the financial statements to the company, and the financial statements will not be complete unless they are shown, and thus Continue reading →