Title: I wanted to know regarding bajaj allainz insurance, as they say it doesnt involve any transaction of interest, being given to us.they say they invest our money in share market and give us the profit. it also like if there is any loss incurred we are also in it. is it halal to invest in it?so many deendar people are forcing me to invest in it. what do i do?

Question: I wanted to know regarding bajaj allainz insurance, as they say it doesnt involve any transaction of interest, being given to us.they say they invest our money in share market and give us the profit. it also like if there is any loss incurred we are also in it. is it halal to invest in it?so many deendar people are forcing me to invest in it. what do i do?

Answer ID: 5060Posted on: Sep 1, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 999/853=B/1429)

In above-mentioned case, investing is allowed with three conditions: (1) The real business of company should be Halal. (2) The benefit should not be fixed in any particular way between company and the investor, but the distribution of benefit between them should be according to percentage. (3) And in the time of loss both the parties should bear the loss as per their capital amount:

وفي الهداية : و من شرطها أن يكون الربح بينهما مشاعاً لا يستحق أحدهما  دراهم مسماة من الربح لأن شرط ذالك يقطع الشركة . هداية، ج:3/ص:258