Assla Alaikum. I want to know that share market & inssurance are legal or ilrgal but why.give me complete answer.thanking you. allah hafiz
Answer:
(Fatwa: 669/669=M/1429)
It is a business to invest money in share market which is lawful with some conditions, while insurance is an interest based transaction, therefore unlawful. A business is lawful and interest is unlawful, as the Holy Quran said: أحل الله البيع وحرم الربوا(Allah has permitted sale, and prohibited riba/usury).
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband