What is the ruling on the insurance provided by an Islamic center in Sudan?
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The questioner: Well; it is time, O honorableThe Shaykh : We move on from image-making to another matter.
The Shaykh: Go ahead.
The questioner: In Sudan, the Islamic bank has established -- ... -- insurance for items, which they call Islamic insurance. They insure against everything except life, meaning against fire, against theft, and so on. And they have a fatwa stating that it is permissible. Then, how is their method of insurance? For example, I want to insure my car.
The Shaykh : Yes.
The questioner: They appraise the car, for example, at five thousand pounds. They say: Okay, you pay, for example, twenty pounds per month for a period of ten years. If you pay the twenty pounds, and these twenty pounds are preserved for you; meaning the bank does not take them, they are preserved for you, the insured. And then, if the car, for example, after paying the first installment, is crashed and broken or stolen, then I take the full value of the car. And they consider this permissible. So I do not know the opinion of the religion in this matter?
The Shaykh: My dear sir, it is the same thing. This reminds me of a Syrian joke: It is claimed that a Syrian met a Moroccan, and the Syrian began to praise the Moroccan, saying: You are a good group, kind, honorable, and excellent, and so on. But you have one thing. He said: What is it? He said: This is it [Everyone laughs!]. It is known that Moroccans have a tendency for... So this is it, my dear sir, what we were talking about; deception and going around in circles.
The Shaykh: Go ahead.
The questioner: In Sudan, the Islamic bank has established -- ... -- insurance for items, which they call Islamic insurance. They insure against everything except life, meaning against fire, against theft, and so on. And they have a fatwa stating that it is permissible. Then, how is their method of insurance? For example, I want to insure my car.
The Shaykh : Yes.
The questioner: They appraise the car, for example, at five thousand pounds. They say: Okay, you pay, for example, twenty pounds per month for a period of ten years. If you pay the twenty pounds, and these twenty pounds are preserved for you; meaning the bank does not take them, they are preserved for you, the insured. And then, if the car, for example, after paying the first installment, is crashed and broken or stolen, then I take the full value of the car. And they consider this permissible. So I do not know the opinion of the religion in this matter?
The Shaykh: My dear sir, it is the same thing. This reminds me of a Syrian joke: It is claimed that a Syrian met a Moroccan, and the Syrian began to praise the Moroccan, saying: You are a good group, kind, honorable, and excellent, and so on. But you have one thing. He said: What is it? He said: This is it [Everyone laughs!]. It is known that Moroccans have a tendency for... So this is it, my dear sir, what we were talking about; deception and going around in circles.
Source
www.al-albany.com
The Arabic text is copied verbatim from the original source, without any edits.