Working in insurance companies and actuarial business : software development for insurance companies

Fatawa Question

Salams Dr. Monzer, pls. help replying the following question : We are an offshore software development company and have been working with foreign clients who develop and host software applications for insurance companies. The software we develop covers all aspects of insurance business (personal and commercial lines) and generates insurance agreements (proposals, policies etc.) In some cases, we also develop code that generates premium financing (interest calculation) documents. Knowing that both interest-based transaction and insurance agreements are not in accordance with Sharia practices, is it permissible for us to write such software ? Although we are not involved in any forbidden transactions ourselves, are we involved in a sinful act based on this Ayah : "Help one another in righteousness and piety ? And do not help one another in sin and transgression" (al-Maaidah 2). Jazak Allahu Khairan for your consideration, Barak Allahu Feek Misbah Wael Shihab Deputy-Managing Editor Shari`ah Dep. IslamOnline.net

Fatwa

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Publication Date

2009-09-08

Main Subjects

Economics & Business Administration
Islamic Studies

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-731108

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