yap

yap

Question:

I got a job offer from a company called yap, it’s a digital banking platform. Basically, it’s an application through which people can manage their finances. Just how someone uses their bank application to conduct transactions. It doesn’t offer a loan facility, hence not involved in Riba. However, I’m still concerned working in a fintech organization is halal or not. Here’s the company link for your reference: https://www.yap.com/ It’s a financial technology company, not a bank. People can do digital banking and take control of their finances using innovative digital banking tools. Basically helping people to manage their money smarter and easier. The company is making money through the card request model. Such as mastercard/paypak

Answer:

In the name of Allah, Most Compassionate, Most Merciful,

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

At the outset, working for any organization, whether tech-based or not, is dependent on the activities of the corporation. Merely being a fintech company does not affect the lawfulness of an employment. Nonetheless, YAP is a digital banking platform providing various services such as spending and budgeting analytics, peer-to-peer payments, bill payments, and remittances services.[i] Like other neo banks, YAP does not offer mortgages or loans. As YAP is not engaged in any impermissible activities, the income received from such an organization would be permissible.

And Allah Ta’āla Knows Best

Hammad Ibn Ismail Jogiat

Student - Darul Iftaa

Cambridge, Ontario, Canada

Checked and Approved by,

Mufti Ebrahim Desai.

[i]

https://www.arabnews.com/node/1821191/business-economy

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