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What is the view on retirement annuities and Takaful insurance?

Answered as per Hanafi Fiqh by Askimam.org
  1. What is the view on investing in retirement annuities?
  1. What is the view on Takaful insurance?
Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykumwa-rahmatullāhiwa-barakātuh.

  1. To give a view on investing in retirement annuities, it is necessary that we review the contract of the retirement annuity.
  1. The Darul Ifta currently has the view of impermissibility on Takaful insurance.  However,further research is in process on the matter.

And Allah Ta’āla Knows Best

Mufti Hussein Issa,
Mozambique
 

Checked and Approved by,
Mufti Ebrahim Desai.
www.daruliftaa.net 

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This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

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