Fatwa No : 85338
Ruling on Pak-Qatar Family Takaful

Ruling on Pak-Qatar Family Takaful

Assalamualaikum Warahmatullahi Wabarakatuh!
What do the respected Muftis say regarding the following issue: In Pakistan, there is a company working under the name “Pak-Qatar Family Takaful.” Their claim is that it is an Islamic company and an Islamic alternative to conventional insurance, because in conventional insurance there are evils such as interest (riba), gambling (qimar), and uncertainty (gharar), whereas in this company, in order to avoid these evils, a Shariah Board has been established, whose chairman is Mufti Taqi Usmani (DB). This Shariah Board supervises all the affairs of the company; therefore, this company is working strictly in accordance with Islamic principles. Respected Mufti Sahib, according to Islamic principles, is it permissible to work in this company or to obtain takaful (insurance) from it? Kindly guide us, especially since, according to the answer I received from Darul Uloom Karachi, dealing with this company has been declared permissible.

الجوابُ حامِدا ًو مُصلیِّا ً

The method of Pak-Qatar Family Takaful Company is free from interest (riba), gambling (qimar), etc., and is in accordance with Shari‘ah (Islamic) principles; therefore, working in it, taking a salary from it, and obtaining takaful through it is Islamically permissible and valid, and there is no objection to it.