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  • Question on job in finance

    Assalam o alaikum. i wanted to ask a question about the job of research analyst in a stock brokerage firm or mutual fund. My degree major is finance so I want to know if working as a research analyst for any stock market company is halal? Basically, the job is to do research on companies, look at their financial statements and analyse their performance and then give a recommendation on whether to buy the stock or sell it. I understand that investing in shariah compliant stocks are allowable but i wont be investing ill just be researching and giving opinion. Also, i won't be researching on banks and insurance companies whose business is unlawful. so what do you guys think? jazakAllah

  • #2
    Re: Question on job in finance

    Originally posted by yasirrfc View Post
    Assalam o alaikum. i wanted to ask a question about the job of research analyst in a stock brokerage firm or mutual fund. My degree major is finance so I want to know if working as a research analyst for any stock market company is halal? Basically, the job is to do research on companies, look at their financial statements and analyse their performance and then give a recommendation on whether to buy the stock or sell it. I understand that investing in shariah compliant stocks are allowable but i wont be investing ill just be researching and giving opinion. Also, i won't be researching on banks and insurance companies whose business is unlawful. so what do you guys think? jazakAllah
    walikum salam wrwb
    I can't say its Haram or Halal but its the Right of only our Creator, telling ourselves as Haram Halal is a big sin. But I can give an indication of a right thing, If you do research with the Intention (iklaas) that you want to find stocks which are ok under sharia strictly to help the muslim investors than its not bad. But my idea it will be just a waste time because most of the companies will be under Riba borrowings better to change your profession ,dude
    My sect - No Sect

    My Aqeedah - http://legacy.quran.com/112 ( The Aqeedah of Sahabas)

    Just a Muslim

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    • #3
      Re: Question on job in finance

      Originally posted by talibilm09 View Post
      walikum salam wrwb
      I can't say its Haram or Halal but its the Right of only our Creator, telling ourselves as Haram Halal is a big sin. But I can give an indication of a right thing, If you do research with the Intention (iklaas) that you want to find stocks which are ok under sharia strictly to help the muslim investors than its not bad. But my idea it will be just a waste time because most of the companies will be under Riba borrowings better to change your profession ,dude
      I agree with you but what I think is that if I can't do research on companies that have borrowings, then I can't even work for a company that has borrowings? So for example if working for an MNC that has a lawful business but whose operations are run by debt is right or halal then shouldnt doing equity research on that company also be right?

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      • #4
        Re: Question on job in finance

        Dealing in speculative transactions is haram in Islam.
        "When a man sees the road as long he weakens in his walk." Ibn Qayyim

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        • #5
          Re: Question on job in finance

          Originally posted by Musbah View Post
          Dealing in speculative transactions is haram in Islam.
          Yes brother I know. 2 things here. Firstly, I won't be a trader, meaning I wont be buying or selling stocks. Secondly, there will be no speculation. There are people who deal in speculative transactions but this isnt speculative. Its pure research on a company's operations, country's economy, industry conditions etc etc and deciding whether the company will be better in the future or worse.

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          • #6
            Re: Question on job in finance

            Originally posted by yasirrfc View Post
            deciding whether the company will be better in the future or worse.
            "When a man sees the road as long he weakens in his walk." Ibn Qayyim

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            • #7
              Re: Question on job in finance

              Thank you brother. Actually, what the job is that the research is for clients and individual investors who are looking for a long term investment opportunity. Speculative traders are present in the market but equity research is for people looking to invest their money for the long term. I appreciate your advice and ill ask more muftis. I asked one mufti and he said theres no harm in it. But im looking to ask more muftis.. Actually, its a bit difficult to switch fields after specializing in a particular field but I think even if I work in finance in the short term, ill gradually shift to management accounting in the long run. That is basically looking after a company's finances, budgeting, costing etc. but I think that too my not be completely halal if working in equity markets is wrong? because even in the accounting department of a company whose business is lawful, there may be instances when u have to deal with banks like for projects. or u have to take into account interest transactions when budgeting or doing investment appraisals.

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