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Fatwa #309726 May 2001United States of America

What is the Shar’ee ruling on studying Actuarial Sciences (financial probabilities)?

Answer

Allah Ta?ala says, ?And help one another in virtue and piety and do not help one another in sin and oppression.? (Maaidah 5:2). Abdullah ibn Mas%F3od (Radhiallaahu %C1nhu) narrates that Rasulullah (Sallallaahu %C1layhi Wasallam) advised, ?Do not take a commitment (profession, business, etc.) that will involve one in acquiring the world (over religious obligations). (Mishk%E3t pg.441; Qadeemi). %0D%0A%0D%0AIn view of the above, it is permissible, in fact ideal for a person to practice a profession without him compromising his religious obligations. However, in a conflict between his professional duties and religious obligations, preference should be given to religious obligations. %0D%0A%0D%0AAs an Actuarist, if one will be advising in un-Islamic activities, for example, interest-related transactions, insurances, etc. then it is not permissible.%0D%0A%0D%0AIf one will not be advising in un-Islamic activities or advising Muslim clients to assist them to come out from un-Islamic transactions, for example, interest, etc. then it will be permissible and in fact an act of virtue. %0D%0A%0D%0AIn short, to be an Actuarist is permissible and much depends on which avenue one practices upon.%0D%0A%0D%0Aand Allah Ta'ala Knows Best%0D%0A%0D%0AMufti Ebrahim Desai
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