ASA Mufti,
I have the opportunity to join a student-run finance club that invests in equities (typically taking a long position). The purpose of the club is to teach students about investing and give them knowledge of a specific sector of the finance industry. I am worried as I recently just learned that they engage in short-selling, which is unequivocally haram. Short selling is a relatively small part of their portfolio (1-2%), but I do not want to involve myself in something haram. Here is the situation as of now and I want to know if I should go forward with the interview process or cut it short:
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The club is structured as a nonprofit and any profits are put back into the fund. They do not create money for anyone
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I would not be getting paid, it is just for the experience/resume boost and learning about finance in general. As far as I know, no one else at the club is paid either.
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The short positions are only 1-2% of their portfolio.
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I am not sure of the stock being invested in and whether it is Islamically allowed
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My only intention is to use this club as a way to gain experience, I plan on working in consultancy/advisory insha’Allah and I would like to use this as a stepping board to furthering my career and making connections
While this could be a good opportunity, nothing good comes from doing anything haram and I would like to be sure what I am doing is permissible. JAK for your time