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Insuring one’s business and working in an insurance company

Answered as per Hanafi Fiqh by Muftionline.co.za

Q:

1. Is insuring one’s business halal or haram?

2. Is working in an insurance business allowed in Islam? 

Bismillaah

A:

1. Insurance is haraam as it contains the elements of gambling and interest in it. Hence, the income earned through such an occupation is haraam.

2. Working for such a company is impermissible as one will be involved in haraam.

And Allah Ta’ala (الله تعالى) knows best.

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)


Original Source Link

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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