I have been offerred a franchise of a general insurance company IFFCO TOKIO.It deals only in general insurance and not in life insurance.Please let me know if insurance business is halal or not in the light of the Quran and hadith.

I have been offerred a franchise of a general insurance company IFFCO TOKIO.It deals only in general insurance and not in life insurance.Please let me know if insurance business is halal or not in the light of the Quran and hadith.

Answer

(Fatwa: 978/722=H)

 




Medical insurance involves interest, usury and gambling. But as far as the insurance of car, house and company is concerned then how you will sell it. Please, clear all these points and ask the question again.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband