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What is the Islamic concept of takaful?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
What is about takaful (Islamic insurance) concept? Is it Halal?


(Fatwa: 244=339/D)

It is allowed to take guarantee of ones wealth and life. There is an entire chapter of Kifalah in Islamic Fiqh books. As far as Takaful (Islamic Insurance) is concerned what are its features and other conditions? Please, explain the nature of this concept, then we shall have a say in the matter.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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