I have read two fatwas. Fatwa: # 40430 and Fatwa: # 39116.
The link to the Fatwas
The answers are opposite to each other. One says teaching finance is haram since the teacher promotes the advantages of interest-bearing loans. The other post says that teaching finance is not prohibited but disliked.
My question is if I don’t promote interest-bearing loans rather if I discourage it through my teaching and tell (by showing statistics and prof) student that investing in stock is far more beneficial, will Teaching Finance be still prohibited and/or disliked.
My goal is to show how bad interest is and I know there is ample evidence of it. Through my research, I can show that.
One of my students says that we should stay away from this profession but my understanding is that if we (Muslims) stay away from the research and teaching of conventional finance, then who will show the disadvantage of it and who will promote the alternatives to the conventional students. If we leave the place, who will take advantage? Today in our day to day to day life we are too much involved in interest-related activities because good Muslims left the field open for the non-believers and they have created such instruments in the society that we all are now affected by this. Do you really think just teaching Islamic finance in Muslim countries will help? For those who are studying in conventional universities all over the world, what will happen to them? Shouldn’t we take the responsibility for not teaching the huge percentage of Muslims and non-muslims about the disadvantage of interest-bearing loans and other non-Islamic transactions?
Besides, if someone teaches but does not promote either the advantage or disadvantages of interest-bearing loans, is teaching finance at a university still haram? Here, a teacher may need to teach various things, such as options, derivatives, optimal portfolio etc.
Or Could you please suggest how we can teach Finance at a university in a way that the income from it becomes Halal? What should we avoid in teaching Finance at a conventional university?