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What kind of insurances are permitted, if any?

Answered as per Hanafi Fiqh by Askimam.org

Reference to Fatwa # 42599 regarding car-insurance facility offered by company I am working in. Actually what I need to ask is what kind of insurances are permitted, if any?

Answer

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

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh

In principle, conventional car-insurance facilities are impermissible due to the elements of Qimaar (gambling), Riba (interest) and Gharar (future uncertainty). However it will be permissible to use insurance facilities in certain special scenarios such as if it is a government requirement. We advise you to consult with a respected and competent scholar/Alim/Mufti who will guide you in such matters.

And Allah Ta’āla Knows Best

Ismail Desai,

Darul Iftaa

Checked and Approved,

Mufti Ebrahim Desai.


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

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