actuarial sciences

[Actuary2B]

mmmm, luckily I've been able to gather
few links fairly quickly.

These are my posts few months back

http//www.accountancy.com.pk/forum/topic.asp?whichpage=3&ARCHIVEVIEW=&TOPIC_ID=767

Following is the view of one of the scholars
who has answered in favour of legitimacy of
insurance in Islam (only if there is no involvement
of interest, sood)

http//www.islamicity.com/dialogue/Q283.HTM

One more link

http//www.aljazeerah.info/Islam/Islamic%20subjects/2004%20subjects/February/Permissibility%20of%20Life%20Insurance,%20Adil%20Salahi.htm


Even those scholars who have denied Traditional
Insuarnce altogther, admit that even TRADITIONAL
insurance system can be modified to get in line
with Islamic principles. Its our unfortunateness
that such type of experts & work(TAKAFUL)is in very
initial stages in Pakistan.


There are numerous links on this subject matter &
arguments on each side, you can search google & can
come up with both sides of picture.

<u>Please DON'T TAKE ME AS SAYING OR DECIDING ONE
THING IN FAVOUR OF OTHER. WHAT I ACTUALLY MEANT BY
ALL THIS IS TO GIVE THE READER BOTH SIDES OF PICTURE
& LEAVE THEM ALONE TO MAKE A DECISION FOR THEMSELVES.</u>


I earlier mentioned atleast one SoA's qualified
Actuary (Mr.Abdul Rahim Abdul Wahab, FSA, SidatHyder)
who has been working on Islamic Insurance products
since quite some time now. Few reports from him

http//www.modarabas.com/html/article.php

Since Takaful Ordinance has passed in Pakistan,
He has been part of committee who is looking to
see the feasibility of Takaful business in Pakistan.
i-e He qualified via a traditional actuarial track(SoA),
got around a decade of traditional Actuarial experience
under his belt and then started to utilize his resources
& experience to promote Islamic Insurance products.
I'm sure he wouldn't have been able to do this if he
wouldn't have worked earlier in Traditional Insurance system.

For me(being an Actuarial student), i'm not being
discouraged by Halal/Haram stuff that earlier in
my career. I can always finish up my qualifications
and get my experience under the traditional insurance
system (since Takaful is not that developed at this time)
to get myself in a position to help promote Islamic
Insurance products,without qualifications & experience
I don't see myself of any help to our muslim community
on this issue.

Hope it helps a little!