Interest-based life insurance : [1]
Fatawa Question
Numerous western insurance companies offer attractive pension schemes whereby the client pays a certain amount of money annually, only to have the double of what he has invested returned to him in 25 years. I have inquired about the ways in which such firms multiply clients' resources, and have been told that they deal in safe investments such as real estate, infrastructure, etc. They also give loans to governments, but not to individuals. Would participating in such a pension scheme be Halal, and if not, what are the Islamic alternatives for securing one's retirement ? Thank you.
Fatwa
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Publication Date
2003-01-19
Main Subjects
Economics & Business Administration
Religion
Islamic Studies
Topics
- Islamic jurisprudence
- Islamic economics
- Insurance
- Life insurance
- Insurance companies
- Usury
- Insurance policies
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-724509
American Psychological Association (APA)
Qahf, Mundhir. 2003-01-19. Interest-based life insurance : [1]. .
https://search.emarefa.net/detail/BIM-724509
Modern Language Association (MLA)
Qahf, Mundhir. Interest-based life insurance : [1]. 2003-01-19.
https://search.emarefa.net/detail/BIM-724509
American Medical Association (AMA)
Qahf, Mundhir. 2003-01-19. Interest-based life insurance : [1].
https://search.emarefa.net/detail/BIM-724509