The Wonderful Library & Islamic Resource Center

World of Islamic Dawah: Islamic Library & Resource Center
 
HomePortalGallerySearchRegisterLog in

As-Salaamu alaikum and welcome readers. Please check our Portal for regular updates and news. Dear readers, you may have noticed that some of our graphics are not showing. We are busy updating broken links and would like to apologise for any inconvenience.

Why not try our Weekly Islamic Quiz?


Share
 

 Ruling about life and property insurance

Go down 
AuthorMessage
Zaza
Librarian
Librarian
Zaza

Location : The Wonderful Art Garden

Ruling about life and property insurance  Empty
PostSubject: Ruling about life and property insurance    Ruling about life and property insurance  EmptyWed Jul 07, 2010 12:22 pm

As Salamu Alaikum

Question

What is the ruling on Insurance, whether 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:

"whereas Allah has permitted trading and forbidden Riba" (usury). (Al-Baqarah 2:275 )

And it has been authentically reported from the Messenger of Allah (Sallallahu 'Alayhi wa Sallam) that he forbade selling Al-Gharar. And Allah is the granter of success.


Shaikh Ibn Baz (Rahimahullah)



Reference: Fatawa Islamiyah Volume 5 Page 19


Al-Gharar: The selling of what is not present, such as selling fish before they are caught, or selleing birds before they are caught etc.
Back to top Go down
 
Ruling about life and property insurance
Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
The Wonderful Library & Islamic Resource Center :: Simply Islam - Our way of life :: Islam - A Complete Way of Life :: Selected Islamic Rulings on Other Issues-
Jump to: