Question Summary:
Studying actuarial sciences Question Detail:
Respected mufti I’m enquiring the permissibly of studying a degree in actuarial sciences. And thereafter pursuing a career in the same field. Is it permissible from a shariah perspective. Please forward me a detailed explanation.
Answer :
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.
Actuarial science is the study wherein one applies analytical, statistical and mathematical skills to financial and business problems. This is especially valuable when facing real-world problems that involve uncertain future events or financial risk such as calculating the price an insurer should charge customers for various insurance benefits, understanding the impact that different investments have on a pension fund’s expected risk and return, or calculating a bank’s risk due to home-loan customers being unable to repay their mortgage debt[1].
There is no restriction in studying actuarial sciences. However, generally, the jobs available thereafter for an actuary is within a conventional and corporate system which will be based on interest, insurance, bonds, dividends, etc. all of which are un-Islaamic and haraam. Accordingly, if one’s advice and analysis is free of any un-Islaamic factor, then it will be permissible; otherwise, impermissible[2].
Allaah Ta’aala says,
وَلَا تَعَاوَنُوا عَلَى الْإِثْمِ وَالْعُدْوَان
Translation: “And you shall not help one another to sin and to aggression.” (Al-Maaidah v.2)
We advise you to consider and pursue other sciences that are free from possible impermissibilities.
And Allaah Ta’aala Knows Best.
Muajul I. Chowdhury
Student, Darul Iftaa
Astoria, New York, USA
Checked and Approved by,
Mufti Ebrahim Desai.
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[1] Adapted from https://www.actuarialsociety.org.za/becoming-an-actuary/
[2] سنن أبي داود (7/ 447)
5129 - حدثنا محمد بن كثير، أخبرنا سفيان، عن الأعمش، عن أبي عمرو الشيباني
عن أبي مسعود الأنصارى، قال: جاء رجل إلى النبي -صلى الله عليه وسلم-، فقال: يا رسول الله ، إني أبدع بي فاحملني، قال: "لا أجد ما أحملك عليه، ولكن ائت فلانا، فلعله أن يحملك" فأتاه، فحمله، فأتى رسول الله -صلى الله عليه وسلم -، فأخبره، فقال رسول الله -صلى الله عليه وسلم-: "من دل على خير فله مثل أجر فاعله"
فتاوى دار العلوم زكريا (8/ 390)
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