Ref no: 0078#
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Date: Monday, May 02, 2011 |
Category
Fiqh
Title
Question
Is the study and practice of actuarial science permissible?
Answer
Muhtaram / Muhtaramah
In the Name of Allāh, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāh wa-barakātuh.
Actuaries study market statistics and predict the future financial position of an industry. In short they predict the present value of a future sum based on their market experience and statistical expertise.
Actuaries are not regarded as fortune tellers or palm readers. It is a profession which has developed rapidly in the recent past and has evolved into a proper science based on technical skills and expertise. Therefore it is permissible for a Muslim to study and practice this science.
And Allah knows best
Darul Iftaa
Madrasah Inaa’miyya
· The Sharée ruling herein given is specifically based on the question posed and should be read in conjunction with the question.
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