Transactions & Dealings >> Interest & Insurance

Question # : 1357

Pakistan

As salaamu Alaikum: My name is Hassan Sulaiman. I am an American new Muslim. I wanted to know about the new "Islamic insurance called Takaful. I wanted to know if this insurance halaal according to the shariah of Islam? It has been launched in Pakistan and in South Africa and in South Africa most of the ulema say that this "Islamic insurance" is the same as the insurance of the commercial banks because the element of gambling and riba are still present. what is your opinion on this very important matter? Please answer.

Answer : 1357

Published on: Feb 13, 2008

بسم الله الرحمن الرحيم


(Fatwa: 884/828=B)


 


It is difficult to answer such an ambiguous question. Please, provide the details of Takaful (Islamic Insurance) so that we can have a say.



Allah knows Best!


Darul Ifta,
Darul Uloom Deoband

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