Fatwa #105808 January 2004Saudi Arabia

Is Insurance in Saudi Arabia according to Islamic Laws?

Question

Is Insurance in Saudi Arabia according to Islamic Laws? Whether working in Insurance Company in Saudi Arabia is permissible? Whether working in any other company in Saudi Arabia as Accountant and so dealing with Insurance Company for Insurance of Vehicles etc. is permissible.

Answer

We do not know the rules and principles of Insurance in Saudi Arabia.

However, all conventional insurances are prohibited as they contain elements of interest, gambling and uncertainty through a mechanism not recognised in Shari?ah.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai

#26810Can I work as an accountant for an automobile company that deals in insurance?
#35613Insurance Brokerage Company
#186521)I am staying in Saudi Arabia. Last year I purchased a car and took only a third party insurance for my vehicle because I know ...2) Somebody said to his wife “I divorce you” in three time to his wife with some angry and no intension to actual divorce .in this ...
#186491)I am staying in Saudi Arabia. Last year I purchased a car and took only a third party insurance for my vehicle because I know that full ...2) when my wife has completed her bathing too much hair being falling. have we keep this hear and should buried in sand? Or can we allow ...?
#42910Why are Saudi Arabia Insurance schemes permissible and not those from other countries?
#26613Is my job as an accountant for an insurance company permissible?
#18304INSURANCE POLICY IS GIVEN PERMISSIBLE BY Sheikh Mustafa Al-Zarqa so insurance company worker who is my relative .... please guide us with solid reply with full confidence
#19259I am working with an American Title Insurance and Mortgage company in as a process trainer. I have also invested in stock market and Islamic forex. Could you please help and make me understand whether I am in a wrong profession?

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