Ruling about life and property insurance

User Rating:  / 0

Details

Category: Sheikh Bin Baz

Published on Thursday, 07 November 2013 10:25

Hits: 1000

Ruling about life and property insurance

Question:

What is the ruling on Insurance, wether it be life insurance or property insurance?
Answer:

Insuring one's life and property is forbidden; it is not permissible due to the fact that Al-Gharar and usury are involved therein. And Allah - the Almighty the All-Powerful - has forbidden all types of dealings that involver usury and dealings in which there is Al-Gharar, as a mercy for the (muslim) community and a protection for them for what is harmful to them. Allah - Most Glorified, Most High says:
"wheras Allah has permitted trading and forbidden riba" (usury). Al-Baqarah 2:275

And it has been authentically reported from the Messenger of Allah (sallAllaahu 'alayhi wa sallam) that he forbade selling AL-Gharar. And Allah is the granter of success.

Shaykh `Abdul-`Azeez Bin Baz
Fatawa Islamiyah, volume 5 / page 19

Tweet

• Waving when giving salaams
• A Permissible Transaction
• A person who is Junub must not read Qur'an
• A Sisters Gift
• A Women May not Travel Except with a Mahram
• A Women Should not Visit Graves
• A Word Concerning The Obligation Of az-Zakaah And Its Importance
• Ad-Dayyuth is One Who Accepts Sin on the Part of His Wife
• Al-Madhi does not necessitate Ghusl
• Also regarding the Number

• < Prev
• Next >