Question
HBZ bank has a Shariah compliant 'forward cover' insurance for currency trading. Is this type of insurance permissible?
Answer
HBZ Bank is worse than even Al-barakah Bank. HBZ openly advertises its interest deals. The 'forward cover' is haraam. There is no shariah-compliant insurance scheme.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 22 No 06
- PDF page
- 5
Appears under Questions and Answers (approximate).