Working in insurance companies and as actuary : working in insurance : [1]

Fatawa Question

Assalamu Alaikum, I have searched your Fatwa bank for rulings on insurance in general and working in them specifically, in the hopes of resolving a major question of mine. I am near the completion of my university degree and I am intending on working in the actuarial profession. Actuaries are hired in all types of insurance companies, consulting companies and pension companies. From what I have researched pension companies seem to be the area least under dispute. Even so it would be unlikely that upon landing my first career job, I would find a pension company that is involved in fully Halal transactions. My questions are as follows. 1) Would it be possible to work as an actuary in a traditional insurance company, and if not in all then which ones ? 2) Would it be possible to work for a consulting company even if some of its employment comes from insurance companies and traditional western banks ? 3) Is it Halal to work as an actuary in a pension company ? Jazakallah khair.

Fatwa

Click hereto view more

Publication Date

2002-05-05

Main Subjects

Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Islamic jurisprudence
• Income
• Profits
• Labour
• Health insurance
• Life insurance
• Insurance companies
• al-Halal and al-Haram

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-724834

• APA
• MLA
• AMA