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Can I start an investment consultancy business?

Assalam.. I am pursuing MBA and i want to start my business of investment consultancy services. I will do broking of share, mutual fund,insurance, foreign exchange, real estate, gold and silver and commodity future trading.. IS it permissible for me to do this? IF not, what is the halal way of doing these business in india, where halal financial system is not there?

Answer:

(Fatwa: 544/H)

Before starting your business, you have considered that there is no Halal financial system in India. Because of this thinking, it is feared that you may start feeling that all doors of Halal earnings are closed and there is no way out. It is better for you that when you start any business, first of all consult the Muslim brethrens who are already in that particular field and get the entire details from them and do not rely only on your own understanding. After that wherever you face any problem in earning lawfully then write it to us and get its solution. Start your work with the firm determination of earning Halal and avoiding Haram, in-sha-Allah you will not face any unbearable difficulty; Allah Subhanahu wa TasingleQuola says: And whosoever fears All?h and keeps his duty to him, He will make a way for him to get out (from every difficulty). (Suratut Talaq 2/65).

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

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This answer was collected from the official ifta website of Darul Uloom Deoband in India.

Tags: business, estate, gold, gold and silver, insurance, investment

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