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Ruling on Life Insurance

Financial Transactions,Interest,Ruling on Life Insurance

Fatwa No :
82077
| Date :
0000-00-00
معاملات / مالی معاوضات / سود

Ruling on Life Insurance

What do the esteemed scholars and muftis say regarding the following issue: What is the Islamic ruling on taking out a life insurance policy from State Life Insurance Corporation?

الجوابُ حامِدا ًو مُصلیِّا ً

Conventional insurance policies are based on interest-bearing transactions and are therefore prohibited (haram) and impermissible in Shari'ah. Hence, it is essential to avoid participating in any conventional insurance policy.

مأخَذُ الفَتوی

کما فی تنزیل العزیز:احل اللہ البیع وحرم الربوا(البقرۃ:275 الآیۃ)۔
وفی مرقاۃ المفاتیح: عن جابر رضی اللہ عنہ قال : لعن رسول اللہ ﷺ آکل الربوا وموکلہ وکاتبہ وشاھدیہ،وقال:ھم سواء(6/51)۔

And Allah knows best
Darulifta Jamia Binoria Aalamia

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