I am a Masters student. I am currently doing a research on the computer-based automation of the process of determining prospects at the stock exchange. I will also produce a program to help those who wish to buy or sell shares in the stock exchange to choose profitable transactions. Is dealing in the stock exchange unlawful under the Sharee‘ah? If it is unlawful, is any research relevant to it also considered unlawful? Is the process of determining prospects also unlawful?

All perfect praise be to Allaah, the Lord of the worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad, sallallaahu ‘alayhi wa sallam, is His Slave and Messenger.

The stock exchange contains the lawful and the unlawful. Both permissible and impermissible transactions take place there.

Accordingly, if it is likely that your studies will be used in unlawful dealings that deal in Ribaa (interest, usury), then it is impermissible for you to take part and help them with these studies. Allaah The Almighty Says (what means): {But do not cooperate in sin and aggression.}[Quran 5:2] However, if the nature of your studies is confined to be used only in lawful dealings, then they are permissible. You must abstain from participating in any prohibited matter.

It is permissible to conduct studies on market prospects on the basis of its facts and reality. These studies are not considered to be indulging in the matters of the unseen as long as they are based on stable rules and conditions.

And Allaah Knows best.