❖ Question:
What is the Islamic ruling on insurance?
❖ Answer by:
Shaykh Abdul Wakeel Nasir ḥafiẓahullāh
✿ The Nature of Contemporary Insurance:
The modern-day insurance system—regardless of whether it is labeled as Takaful or Kafālah—is essentially composed of various forms of Ribā (usury), where only the terminology has been altered.
✿ Core Issues with Insurance:
① The current insurance framework is fundamentally based on Qimār (gambling) and Ribā (usury).
② Numerous scholarly discussions and sittings have taken place with scholars and jurists from different schools of thought regarding this matter.
③ However, they have failed to establish its permissibility under the clear principles of Sharīʿah.
✔ Conclusion:
Since the current insurance system involves a mixture of gambling and usury, it is therefore Islamically impermissible, and one is instructed to abstain from it.
