Working in a Commercial Insurance Company
Machine translationRead the Arabic original
The presenter:
Ahmad from Riyadh, go ahead, Ahmad.
The questioner:
Peace be upon you.
The presenter:
Peace be upon you.
The questioner:
If you are, you are the one for the Shaykh.
The presenter:
Raise your voice a little, go ahead.
The questioner:
What is the ruling on working as an administrative employee at Al-Rajhi Takaful Health Insurance Company?
The Shaykh:
By Allah, my brother, it is not permissible to work in commercial insurance companies, because the basis of insurance itself is not permissible. Commercial insurance is not permissible; rather, it is cooperative insurance, which aims at doing good and giving charity to those in need, and does not invest it to return a worldly profit to the participant. A worldly return—this is cooperative insurance. Working in it is good. As for commercial insurance, it is not permissible to work in it, because it is consuming people's money unjustly, and it involves riba (usury or interest), and it involves many other things, unregulated transactions. Yes.
The presenter:
May Allah reward you,
Ahmad from Riyadh, go ahead, Ahmad.
The questioner:
Peace be upon you.
The presenter:
Peace be upon you.
The questioner:
If you are, you are the one for the Shaykh.
The presenter:
Raise your voice a little, go ahead.
The questioner:
What is the ruling on working as an administrative employee at Al-Rajhi Takaful Health Insurance Company?
The Shaykh:
By Allah, my brother, it is not permissible to work in commercial insurance companies, because the basis of insurance itself is not permissible. Commercial insurance is not permissible; rather, it is cooperative insurance, which aims at doing good and giving charity to those in need, and does not invest it to return a worldly profit to the participant. A worldly return—this is cooperative insurance. Working in it is good. As for commercial insurance, it is not permissible to work in it, because it is consuming people's money unjustly, and it involves riba (usury or interest), and it involves many other things, unregulated transactions. Yes.
The presenter:
May Allah reward you,
Source
قناة «مؤسسة الدعوة الخيرية»، فتاوى على الهواء 25-12-1434هـ - الفوزان — youtube.com (58:47)
The Arabic text is a machine transcription of the audio recording.