Q: Is it permissible to become an actuary and is it permissible to study actuarial science?
A: The study of actuarial science is permissible as a science. After receiving a degree in this science, one should use it to earn a lawful income by entering a field that is allowed by Shariah. Insurance companies use such qualified people in their industry. To work for an insurance company using this science, or to use it in any insurance related matter, or to apply it in any forbidden matter will not be permissible. It will be permissible to apply it to a range of applications outside the insurance industry on condition that they (applications) are not Islamically forbidden.
A: The study of actuarial science is permissible as a science. After receiving a degree in this science, one should use it to earn a lawful income by entering a field that is allowed by Shariah. Insurance companies use such qualified people in their industry. To work for an insurance company using this science, or to use it in any insurance related matter, or to apply it in any forbidden matter will not be permissible. It will be permissible to apply it to a range of applications outside the insurance industry on condition that they (applications) are not Islamically forbidden.
AND ALLAH TA'AALA KNOWS BEST
Moulana Yusuf Laher
