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insurance

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.

 My question is regarding life insurance for about $300,000 in my name, after I die this money will go to my wife and child and they can buy a house and live a comfortable life. Please advise me on this?

Answered by Muftionline.co.za

Q: My question is regarding life insurance for about $300,000 in my name, after I die this money will go to my wife and child and they can buy a house and live a comfortable life. Please advise me on this? A: Insurance contains the elements of usury and gambling. And Allah Ta’ala (الله تعالى) knows best.   Answered by:… read more »

Being paid out by another persons insurance

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Q: John’s car collided with Zaid’s car injuring Zaid. John’s insurance company pays Zaid as compensation for his injuries. Is it permissible for Zaid to accept this payment and benefit from it — keeping in mind that insurance companies make money through gambling and interest? A: Since they paid Zaid on behalf of John, Zaid is justified in taking… read more »

 I would like to know whether stem cells are allowed in Islam. In this case I would be storing it for my heirs only. Furthermore I would like to know whether a medical aid scheme is allowed. The medical aid portion is only a hospital plan. No insurance. Please advise whether the above is allowed and if not please comment in detail why not.

Answered by Muftionline.co.za

Q: I would like to know whether stem cells are allowed in Islam. In this case I would be storing it for my heirs only. Furthermore I would like to know whether a medical aid scheme is allowed. The medical aid portion is only a hospital plan. No insurance. Please advise whether the above is allowed and if not please… read more »

Assisting in evil and sin

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Q:  I am working virtually (from Pakistan) for an Irish Solicitors firm. I listen and type their dictations. They have all kind of cases including same sex marriage, family, employment etc. Is my job halaal? I have a job offer from a US based marketing company where I have to assist them in setting up their marketing campaigns…. read more »

Dealing in shares

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Q: Is stock business halaal? If I avoid items like bank, insurance, financial institution and so on? Again, When a new stock item comes into market it offers many people to apply for that and among them some people are allotted with that item primarily. It is done by a random selection. After that they return the money of others…. read more »

Trading on the JSE

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Q:  What type of transaction (partnership etc.) does one enter into when trading/investing on the JSE? The guidelines when purchasing/investing the JSE stock. What should one look for? The guidelines when keeping it? (dividends. stock value increasing, etc,) The guidelines when selling it? What is the ruling regarding a company being a Legal Entity A:  1. In… read more »

Medical insurance

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Q: I had a question about a friend who sells his medication called Hydrocodone pain killer. He gets it for free under his insurance and sells it to relatives and friends to be used for pain killer? What’s the ruling on that?  A: Insurance is haraam in Islam. He should cancel the medical insurance and repent to Allah Ta’ala… read more »

 Please advise me on Medical Insurance, in todays expensive world it very difficult for the people in middle class to afford such huge amount of expenses towards health care.

Answered by Muftionline.co.za

Q: Please advise me on Medical Insurance, in todays expensive world it very difficult for the people in middle class to afford such huge amount of expenses towards health care. A: Medical Insurance is impermissible in Islam. Refer to http://muftionline.co.za/node/1514 And Allah Ta’ala knows best.   Answered by: Mufti Zakaria Makada Checked & Approved: Mufti Ebrahim Salejee (Isipingo Beach) … read more »

Car finance scheme

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Q: Is the following car finance scheme permissible (halaal)? http://meezanbank.com/islamicCarFinancing.aspx A: The car finance scheme in question is impermissible due to certain aspects of the scheme opposing the laws of Shariat e.g. insuring the car through takaful, imposing penalties for late payments. After studying and examining the Takaful scheme, we do not find substantial difference between it… read more »

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