Working as a research analyst in a stock brokerage firm

Answered according to Hanafi Fiqh by

Q: 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 halaal? 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 Shari’ah compliant stocks are allowed but I won’t be investing. I’ll just be researching and giving opinions. Also, I won’t be researching on banks and insurance companies whose business is unlawful. So is this job halaal?


A: If the job does not entail anything that contravenes the laws of Shari’ah, it will be permissible.

And Allah Ta’ala (الله تعالى) knows best.

يـٰأَيُّهَا الرُّسُلُ كُلوا مِنَ الطَّيِّبـٰتِ وَاعمَلوا صـٰلِحًا إِنّى بِما تَعمَلونَ عَليمٌ ﴿المؤمنون:٥١﴾

يـٰأَيُّهَا الَّذينَ ءامَنوا كُلوا مِن طَيِّبـٰتِ ما رَزَقنـٰكُم وَاشكُروا لِلَّـهِ إِن كُنتُم إِيّاهُ تَعبُدونَ ﴿البقرة:١٧٢﴾

عن عامر قال سمعت النعمان بن بشير يقول سمعت رسول الله صلى الله عليه وسلم يقول الحلال بين والحرام بين وبينهما مشبهات لا يعلمها كثير من الناس فمن اتقى المشبهات استبرأ لدينه وعرضه ومن وقع في الشبهات كراع يرعى حول الحمى يوشك أن يواقعه ألا وإن لكل ملك حمى ألا إن حمى الله في أرضه محارمه ألا وإن في الجسد مضغة إذا صلحت صلح الجسد كله وإذا فسدت فسد الجسد كله ألا وهي القلب (رواه البخاري 1/13)

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

Find more answers indexed from:
Read more answers with similar topics: