The Majlis Archive
Finance - Banking - Business The Majlis Vol 28 No 03, p.11

An Islamic society has rented out a place to an insurance company.

Question

An Islamic society has rented out a place to an insurance company. Will the rent received by this organization be halal and permissible for it? If there is a problem in evicting this company (since the society also helps people who are eligible for Zakat), can the rent received from the insurance company be used to help those people who are eligible for Zakat? Similarly, a place has been rented to a bank where only its ATM machine is available, will the rent received in this regard be halal and permissible?

Answer

The rent from the haraam insurance company is not permissible. If the insurance facility cannot be evicted, then the rent should be given as Sadqah to the poor.

The rent for the ATM machine is permissible.

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The Majlis Vol 28 No 03
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11

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Appears under THE TRAIN STOPS AT MAKKAH. This heading is the nearest headline at or before the page and is approximate. Do not cite it alone.

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