Q:
1. Is insuring one’s business halal or haram?
2. Is working in an insurance business allowed in Islam?
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)