As salaamu Alaikum: My name is Hassan Sulaiman. I am an American new Muslim. I wanted to know about the new “Islamic insurance called Takaful. I wanted to know if this insurance halaal according to the shariah of Islam? It has been launched in Pakistan and in South Africa and in South Africa most of the ulema say that this “Islamic insurance” is the same as the insurance of the commercial banks because the element of gambling and riba are still present. what is your opinion on this very important matter? Please answer.
Answer:
(Fatwa: 884/828=B)
It is difficult to answer such an ambiguous question. Please, provide the details of Takaful (Islamic Insurance) so that we can have a say.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband