IslamQA.org Logo

Working for Insurance Institutions

Answered according to Hanafi Fiqh by Askmufti.co.za
Q: Is it permissible to work at financial services institutions such as Sanlam, Old Mutual and Metropolitan Life. These institutions deal with Retirement Funds, Insurance (long term and short term), Investments, estate planning, etc.

A. It is not permissible to work for these institutions because most of the financial products they sell contain the element of Ribaa (interest). Insurance also has a Ribaa factor in it. The Ahaadeeth prohibit participation in Ribaa on every level. (Abu Dawood V3 P249)

Allah Ta’aala knows best.

Moulana Yusuf Laher

Checked and approved by: Mufti Siraj Desai

This answer was collected from AskMufti.co.za, which is operated under the supervision of Mufti Siraj Desai of Darul-Uloom Abubakr, South Africa.

Find more answers indexed from: Askmufti.co.za
Read more answers with similar topics:
Subscribe to IslamQA Weekly Newsletter

Subscribe to IslamQA Weekly Newsletter

You will receive 5 Q&A in your inbox every week



We have sent a confirmation to you. Please check the and confirm your subscription. Thank you!