Q: EFU is offering takaful insurance. Kindly let us know is it Haraam or halaal as we are very confused about the takaful policy.
A: We have studied the takaful and we have not found any difference between takaful and conventional insurance besides the replacing of words.
And Allah Ta’ala (الله تعالى) knows best.
Mufti Ebrahim Salejee (Isipingo Beach)