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Religious Status Of Insurance
can we take insurances for apartments, houses while living in Canada from insurance companies like All state?
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5 Replies
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Religious Status Of Insurance
updated 1 year, 11 months ago
3 Members
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5
Replies
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Insurance is lawful. It has nothing unethical involved in it. It is not interest or gambling. It is mutual fund which is utilised in commercial business to generate profit to distribute among the customers. The idea is fine.
The host bank or the company use the provided funds on its own discretion, which has no responsibility on the customer.
for details you can read the following article
https://www.javedahmedghamidi.org/#!/books/5aa66ae35e891e8f44a43f5f?chapterNo=39
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sir even if the bank or an insurance company is not an islamic one. another qustion is that is mortgage halal can we buy houses with mortgage.
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Bank or companies are not Islamic or Muslim. It is ethical concerns which makes a trade or transaction valid or invalid.
Mortgage has noting unethical in it. The principle of trade and business is that it should be fair and should not involve trade of Islamically Haram things like liquor or pig.
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then how do we confirm that, in insurance our money is not being invested in haram things in countries like canada?
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Please see for answer to this question:
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