Insurance on Muslims and Islamic properties in India, the USA and other western countries : life and property insurance in India

Fatawa Question

Assalamu Alaikum first I would like to thank Islam on line for the great service to the Ummah and particularly younger generation. My question to Monzer Kahf because his Fatwa on insurance is the most consistent. I’m in India today essentially a strong anti Muslim anti Islam country where Muslims both in private as well as in govt jobs if they get with Allahs grace are confined to great discrimination. I’m working as an insurance agent in an American company and I have also recruited my Muslim brothers as they don’t have any work and all of them r able to make a decent living by insuring their loved once ; and amount of risk faced my our Muslim brothers I feel very happy in selling them insurance because it is very good for their family in case of any calamity. India has no Islamic banking or insurance but keeping in mind the risk to life and property of Muslims it is required ; and due to negative conception among Muslims the business also goes to non-Muslims who make money by selling them to Muslims. Local muftis here say you can buy but not sell insurance whish I feel is ridiculous. Kindly advice is my working in insurance company in India justified and helping my Muslim brothers by giving them jobs and security is it justified.

Fatwa

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Publication Date

2002-05-29

Main Subjects

Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Islamic jurisprudence
• Insurance
• India
• Life insurance
• Property

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-724433

• APA
• MLA
• AMA