Working as an Actuary for a consultancy firm

Subject:

Salaam Maulana Sahib,

I have been offered a role within a Finance company and was hoping you could tell me whether the role is Halal. The job role is as follows:

Design and day-to-day management of pension schemes, through to corporate transactions and ultimtely the final close-down of the plans when risk is passed to a third party.advising on company pension schemes, which range from defined benefit, through risk-sharing, to defined contribution schemes set up under trust or contract. advise pension scheme trustees and sponsoring companies, on issues including scheme funding, investment, accounting for pensions, scheme design, managing risk, defined contribution options and corporate transactions (where the pension scheme can fundamentally affect the outcome). offering advice on issues such as acquisitions, mergers and financing capital projects, and also on occupational pension schemes. designing and advising on company pension schemes, especially placing a value on accumulated pension commitments.

May Allah accept your efforts for this beneficial site.

Kind regards

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Answer:

It will be permissible for you to work as an actuary for the finance company as long as you are not involved or offer any advice on matters related to interest.

Similarly, you must avoid dealing with companies who are running Haraam businesses e.g liquor companies etc.

And Allah is All-Knowing

(Ismail k 7/10)

NB: You know that dealing with interest is not permissible. I can’t see any interest involved in your work, hence no reason to disallow. If you realise this involvement, it will be your duty to refrain from it.

May Allah provide for you and give you abundance of rizqe halal with lots of Barakah. Wassalam AR