The Ruling on Cooperative and Commercial Insurance
Machine translationRead the Arabic original
Question:
The first piece of evidence you mentioned from one of the scholars is that he cited a fatwa permitting insurance in the cooperative insurance company, and forbidding insurance in the commercial sector. Is this correct? And what is the difference between the two?
Answer:
As for the insurance that the Committee did not permit, nothing was approved by them, and nothing passed through them. However, the Council of Senior Scholars attempted to issue a decision regarding cooperative insurance, which means, as we mentioned, that donations are collected in a fund or invested in permissible matters. Then, if a Muslim needs help or is in distress, they assist him from this fund. He only returns to them the reward and merit; he does not get back any financial gain or financial investment. That is commercial, not cooperative. What returns something to the donor is commercial and is not permissible.
But nothing was issued, not even regarding the insurance that is donation-based; nothing was issued on that. They wanted to issue a ruling, but they requested reports and data from the competent authorities, and nothing came to them, so they held back from issuing anything. Therefore, the Council has not issued anything except the prohibition of commercial insurance. They agreed unanimously on its prohibition. Yes.
And if they say that commercial insurance is cooperative, they are liars. It is not cooperative; it is commercial, but they named it cooperative. They claimed that the Council of Senior Scholars proved this, which is a form of deception against the people. The Permanent Committee has issued a statement refuting this news. And what was issued by the Council of Senior Scholars regarding the permissibility of cooperative insurance, which they mean to be investment, yes, it is commercial investment that they call cooperative in order to deceive people, so that they can say the Council issued a ruling permitting it, when it did not issue such a ruling. This is all lies upon lies. Yes.
The first piece of evidence you mentioned from one of the scholars is that he cited a fatwa permitting insurance in the cooperative insurance company, and forbidding insurance in the commercial sector. Is this correct? And what is the difference between the two?
Answer:
As for the insurance that the Committee did not permit, nothing was approved by them, and nothing passed through them. However, the Council of Senior Scholars attempted to issue a decision regarding cooperative insurance, which means, as we mentioned, that donations are collected in a fund or invested in permissible matters. Then, if a Muslim needs help or is in distress, they assist him from this fund. He only returns to them the reward and merit; he does not get back any financial gain or financial investment. That is commercial, not cooperative. What returns something to the donor is commercial and is not permissible.
But nothing was issued, not even regarding the insurance that is donation-based; nothing was issued on that. They wanted to issue a ruling, but they requested reports and data from the competent authorities, and nothing came to them, so they held back from issuing anything. Therefore, the Council has not issued anything except the prohibition of commercial insurance. They agreed unanimously on its prohibition. Yes.
And if they say that commercial insurance is cooperative, they are liars. It is not cooperative; it is commercial, but they named it cooperative. They claimed that the Council of Senior Scholars proved this, which is a form of deception against the people. The Permanent Committee has issued a statement refuting this news. And what was issued by the Council of Senior Scholars regarding the permissibility of cooperative insurance, which they mean to be investment, yes, it is commercial investment that they call cooperative in order to deceive people, so that they can say the Council issued a ruling permitting it, when it did not issue such a ruling. This is all lies upon lies. Yes.
Source
شرح الكافية الشافية في الانتصار للفرقة الناجية [ القصيدة النونية ] [ صالح الفوزان ]، بداية من قوله : هو قابض هو باسط هو خافض — islamhouse.com (57:49)
The Arabic text is a machine transcription of the audio recording.