The Ruling on Commercial Insurance
Machine translationRead the Arabic original
Question:
May Allah reward you. The questioner says: I have insured my employees through insurance, and if I am late in paying the monthly installment, they add an amount to it, calling it a penalty. What is the ruling on this increase?
Answer:
The ruling is that this insurance is entirely forbidden. Commercial insurance is forbidden for workers and others alike. It is forbidden whether a penalty is added to it or not, and its entire basis is forbidden. Commercial insurance is forbidden; decisions have been issued by the Fiqh Assemblies and the Council of Senior Scholars prohibiting it. Yes.
May Allah reward you. The questioner says: I have insured my employees through insurance, and if I am late in paying the monthly installment, they add an amount to it, calling it a penalty. What is the ruling on this increase?
Answer:
The ruling is that this insurance is entirely forbidden. Commercial insurance is forbidden for workers and others alike. It is forbidden whether a penalty is added to it or not, and its entire basis is forbidden. Commercial insurance is forbidden; decisions have been issued by the Fiqh Assemblies and the Council of Senior Scholars prohibiting it. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، [529] حكم التأمين التجاري - صالح الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.