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Al-Mawrid Queries

Questions and Answers on Islam

Career As Chartered Accountant

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Khalid Zaheer

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Question

I have completed an ACCA exam and now I want to do CFA (Chartered Financial Analysist) for that I have registered but few people and are saysing that it’ not halal as its all about the shares, stocks and investments etc. Kindly explain. Should I go for CFA or not?

Answer

There is no harm in appearing for CFA examination. You will only know about the reality of this field when you will study it. Not everything in the stock market is haram. It is only the riba and gambling elements in it that are prohibited. Many Islamic Funds backed by Islamic scholars are running on the basis of investment in stock markets.

I would therefore suggest that you do both CFA as well as improve your knowledge of Islamic expectations in financial matters. As a result of your expertise, you will be able to develop methods of investing in the stock market in Islamically acceptable ways.

Answered by: Dr. Khalid Zaheer

Date: 2015-02-12

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Khalid Zaheer Avatar
Dr Khalid Zaheer is an Islamic scholar and academic. He has a Ph.D. from the University of Wales. His Ph.D. thesis was a critique on Islamic Banking. Dr Kahlid also had an intensive formal religious education in Islam. He studied Quran from Dr. Israr Ahmed, Mawlana Amin Ahsan Islahi, and Javed Ahmed Ghamdi. He also went through a formal two years course on Arabic and Islamic learning from Al-Mawrid, in 1983-84. Dr. Khalid Zaheer has a deep and incisive understanding of the very relevant issue of Islam and modernity and has taught courses on Islamic ethics, traditions and economics etc. at various top national institutions, including the Aga Khan University, Lahore University of Management Sciences (LUMS), University of Central Punjab, Hailey College of Commerce, information Technology University, and Institute of Art and Culture. Dr Khalid Zaheer has also delivered various lectures on Islam in UK, Canada, Australia, Malaysia, Japan and many prestigious institutions of Pakistan. Including Civil Services Academy, Administrative Staff College and PAF War College.

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