Question
Is Takaful insurance permissible?
Answer
Takaful insurance too is unlawful in terms of the Shariah. Takaful is the same as conventional insurance. Giving fancy, 'Islamic' sounding names does not change the nature and reality of the product. Insurance is haraam because of two elements: (1) Riba (Interest) and Qimaar (gambling).
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 20 No 02
- PDF page
- 3
Appears under Questions and Answers (approximate).