What is the ruling on cooperative insurance that exists between those enrolled in this insurance?
Machine translationRead the Arabic original
The questioner : This insurance is called Islamic cooperative insurance?
The Shaykh : What Allah willed! They call it by a name that is not its name.
The questioner : Yes, they say we agree that each of us pays, for example, a sum.
The Shaykh: All right.
The questioner : And this sum.
The Shaykh : Who... before anything else?
The questioner : The participants in the insurance.
The Shaykh: Yes.
The questioner : That is, you have a car and I have a car, and he has a ship and so on, the agreement.
The Shaykh : Cooperative.
The questioner : Cooperative.
The Shaykh: All right.
The questioner : The one whose car, for example, is damaged in an accident and so on is compensated for the car.
The Shaykh: All right.
The questioner : At the end of the year, the funds are assessed, and the surplus from this money is invested, for example, in commercial investment, and the return goes to all the beneficiaries; what is the aspect of prohibition in this practice?
The Shaykh : The question is wrong; because you say: what is the aspect of prohibition? And where did you hear the prohibition?
Another questioner : Prohibition.
The questioner : Yes?
The Shaykh : It is the prohibition.
The questioner : Then what is the ruling?
The Shaykh : There, you executed it! [Everyone laughs!]
Another questioner : My Shaykh, the question that I, for my part, am raising; because the insurance that exists now has no agreement between the insurers.
The Shaykh : He, may Allah bless you, is asking a question, as you know, my sir.
The questioner: Yes.
The Shaykh : The fatwa is according to the text, he remains bearing the full responsibility for any change or alteration, then he did not state this reality, it is permissible for him to imagine something and ask about it.
The questioner : This is the reality of one of the companies in Kuwait.
The Shaykh : Then he will answer youThe Shaykh : , we tried to answer you.
The questioner : We want the answer to this?
The Shaykh : O Professor, if they are a group that cooperated on what you described, then before anything else, what comes to my mind is where is this money placed?
The questioner : In an Islamic bank.
The Shaykh : An Islamic bank in name and in practice and in name?
The questioner : In practice and in name.
The Shaykh : If Allah wills.
The questioner : ... .
The Shaykh : If Allah wills, good; I see no obstacle in this and I see no prohibition in it; because this is from the category of cooperation, and heThe Shaykh : who was answering you, he describe it with us... because he knows the truth but does not know that this is the reality.
The Shaykh : What Allah willed! They call it by a name that is not its name.
The questioner : Yes, they say we agree that each of us pays, for example, a sum.
The Shaykh: All right.
The questioner : And this sum.
The Shaykh : Who... before anything else?
The questioner : The participants in the insurance.
The Shaykh: Yes.
The questioner : That is, you have a car and I have a car, and he has a ship and so on, the agreement.
The Shaykh : Cooperative.
The questioner : Cooperative.
The Shaykh: All right.
The questioner : The one whose car, for example, is damaged in an accident and so on is compensated for the car.
The Shaykh: All right.
The questioner : At the end of the year, the funds are assessed, and the surplus from this money is invested, for example, in commercial investment, and the return goes to all the beneficiaries; what is the aspect of prohibition in this practice?
The Shaykh : The question is wrong; because you say: what is the aspect of prohibition? And where did you hear the prohibition?
Another questioner : Prohibition.
The questioner : Yes?
The Shaykh : It is the prohibition.
The questioner : Then what is the ruling?
The Shaykh : There, you executed it! [Everyone laughs!]
Another questioner : My Shaykh, the question that I, for my part, am raising; because the insurance that exists now has no agreement between the insurers.
The Shaykh : He, may Allah bless you, is asking a question, as you know, my sir.
The questioner: Yes.
The Shaykh : The fatwa is according to the text, he remains bearing the full responsibility for any change or alteration, then he did not state this reality, it is permissible for him to imagine something and ask about it.
The questioner : This is the reality of one of the companies in Kuwait.
The Shaykh : Then he will answer youThe Shaykh : , we tried to answer you.
The questioner : We want the answer to this?
The Shaykh : O Professor, if they are a group that cooperated on what you described, then before anything else, what comes to my mind is where is this money placed?
The questioner : In an Islamic bank.
The Shaykh : An Islamic bank in name and in practice and in name?
The questioner : In practice and in name.
The Shaykh : If Allah wills.
The questioner : ... .
The Shaykh : If Allah wills, good; I see no obstacle in this and I see no prohibition in it; because this is from the category of cooperation, and heThe Shaykh : who was answering you, he describe it with us... because he knows the truth but does not know that this is the reality.
Source
www.al-albany.com
The Arabic text is copied verbatim from the original source, without any edits.