Takaful : is insurance Haram ?

Fatawa Question

Asslam Alaykum ! Respected Sir ! I got your e-contact from askthescholar.com I’m very thankful to them. Sir I am much confused about life insurance, is it legal in Islam or not ? According to one of a lecture of Dr. Zakir Naik insurance would not be Haram if insurance company does invest its money in interest free business, as its happening in Pakistani insurance companies. My mother and father both are working in state life insurance company in Pakistan. I have make it confirmed that state life does not invest its money in interest full business. State life too never offers fixed profit. Then what do you think it would be allowed ? Sir actually my father had worked in Kuwait he is associate engineer but after gulf war he returned back in Pakistan he did not save any money, so that we were indulged in too much crisis he too could not get any well job in Pakistan. At last after some years my mother get job only in state life, she has become now area manager she too did get my father with her who is now sales manager. Sir what we are earning Haram or Halal ? I am waiting for your kind response Best regards

Fatwa

Click hereto view more

Publication Date

2010-08-16

Main Subjects

Economy and Commerce
Islamic Studies

Topics

• Islamic jurisprudence
• Insurance

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-729439

• APA
• MLA
• AMA