May
Muslims on Wall Street: Balancing faith and career
Written by Sabaah ChoudharyOver the past year, the words “Wall Street” have become prevalent in the news, with coverage ranging from protests to investigative reporting on the lack of ethics and humanity being displayed by large conglomerates, such as financial companies like Goldman Sachs.
The Occupy Wall Street movement arose to create awareness about the inequity in the distribution of wealth amongst the American population. The movement has specifically been orientated in providing a voice for the 99 per cent of the population that lacks the bargaining power that the wealthy have in socio-economic related policies and legislation. The age-old idiom “money is power” has a whole new meaning these days, with the saying not only ringing true, but the powerless now becoming increasingly more aware of how little power they may or may not have. Protests and organizational efforts now span North America and have evolved to create a platform of proposed changes that need to be made by the US and Canadian governments.
The issue is one of equity in society, with the wealthy becoming wealthier and the poor becoming poorer. With greater power being laid into the hands of a select few, what does this have to say about the democratic values of our country? If decisions are being made not by the collective voices rather just by a few, then what can we say about democracy in societies with immense wealth inequity? And what does this mean from an ethical standpoint? Especially as Muslims, do we fight the good fight against Wall Street, or do we continue on working as we are, and wait for the wheels of democracy to turn the tides for us?
When researching for this article I approached many young Muslim professionals and students about their perceptions on the Occupy movement, Wall Street and Muslims in the work place in general. The responses I received were varied and diverse in scope and perspective. Everyone had an opinion, but no two opinions were exactly alike. Many claimed that with such a beautiful and rich Islamic history of ethical commerce, Muslims needed to be at the forefront of more conscious and ethical business practices in Canada. Others claimed that if we want change, we need to begin from within, and to find work in these large corporations. There are excellent arguments for either side and it really comes down to individual perceptions on how change can occur: from within or from the outside?
My personal opinion on the issue? We need a bit of both. There are a number of ways to bring about change, and the issues themselves being presented in the discussions around income inequity are many and quite complex in nature. We have a wealth of talented minds in the Muslim community who can contribute to businesses in productive ways. If you want to change a company, moving up the ladder and promoting ethics and consciousness is essential. In fact, the shift towards environmentally friendly practices was done exactly in this way. That being said, there needs to be critical voices on the outside providing clear direction on why changes need to be made in our current socio-economic systems and how to achieve them. And a collaboration of all of these efforts is what can bring about sustainable change.
Just to be clear though, there are Muslims working on Wall Street, who are trying to carve out a place for themselves in the fast-paced financial sector. In fact, a group of young Muslim professionals in the US started a professional organization called the Muslim Urban Professionals. The group hopes to create place for networking and collaboration amongst Muslim professionals working in America. Recently more questions have arisen about the ethical issues faced by Muslims in the work place, the level of religiosity that can be displayed at work, etc. As well, even trickier, what happens when dealing in matters of finance, what are the shariah-friendly methods to be used? This highlights the struggles many Muslims face in their careers, especially as they climb the ranks in some of the continent's largest firms.
Being able to retain one's Muslim identity, create change from within and do a great job at the same time, seems like a lot of work, doesn't it? But it is what should be expected. As we can learn from our beloved Prophet, peace and blessings be upon him, it is necessary to adopt the culture of one's habitation, so long as it does not oppose Islamic values.
As Muslims we need to be that ethical voice in business, ensuring that at the very least we represent conscious commerce, even if we cannot change the overarching system that is unethical (right now that it). Representation is enough to begin changing the minds of those around us. Sometimes all that is needed to pave the way for a paradigm shift is for there to be another option or avenue present.
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