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I am planning to create a software service

Q:

There is a business plan to create a software service for predicting prices and other metrics of companies so that other investment companies can use it to analyse the market better. The prediction/analysis will be made with machine learning by inputting previous market data and analyzing other important metrics used as news information, sentimental analysis from social networking sites etc. Also a community will be created for other people to contribute their predictions for the markets on their personal analysis. As there will be all kinds of companies there that will be analysed, there will be some haram companies (banks etc) too as this is a complete service for the whole stock market. Service could be sold to investment companies, asset management companies, hedge funds, stock brokerages, individuals etc. Therefore, could you please let me know if this will be allowed in Islam? I’ve thinking of this for a long time but didn’t want to take any step without the guidance of an Alim,really thankful for this amazing help you’re providing.

A:

Salamun Alaykum

Thank you for your query.

If your data is according to the proper channel of news and legal then there is no problem in creating. But if your input is according to the leaked information which is illegal then it is problematic.
Also, Bank is not a haram institute and one can certainly work with it with proper knowledge on haram and Halal dealings.

May Allah(swt) grant you success

Wassalam,

AAA team under the guidance of Syed Haider