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 is this job halal? JazakAllah Assalam O alaikum
In essence, working as a research analyst is permissible.
Working as a researching analyst for a brokerage firm is also permissible but working as a research analyst only for mutual funds that are interest based would not be permissible.
Likewise, working as a reaserch analyst on any other capacity for such an employer whose main business is considered Haram in Islam would also be considered impermissible.
And Allah knows best.
Mufti Ikram ul Haq
Fatwa Center of America