QUESTION: An Islamic society owns certain properties, such as Masaajid, a wedding hall, a mall, and some residential houses. It is not legally mandatory to insure these properties. However, if a person is injured or dies on our premises — especially in places such as...
QUESTION: I have family members who work for insurance companies, so will it be permissible to eat at their homes and accept gifts from them? ANSWER: In principle, if it is known with certainty that a majority of their income is from a Haraam source (i.e. from the...
QUESTION: A person has life insurance for his mother. She is still alive. is it permissible for him to keep the life insurance and once she passes away, he will take his capital amount and use the balance of the money to pay taxes? ANSWER: He should cancel the...
QUESTION: Is it permissible to take out Medical Aid with Discovery? What about "Vitality Rewards" with Discovery? Is this Jaaiz? ANSWER: We have not approved of Discovery health insurance or the Vitality rewards programme that is linked to health insurance. We...
QUESTION: I am going to start an online store for my business. I will be using a courier company to deliver my orders. However they are advising that I insure my goods, reason being, that the high risk involved with their vehicles being targets of theft/hijacking. I,...
Question:- Two weeks ago a family member of ours requested that we lend him some money because his geyser had burst ! Because he is staying in a block of flats the insurance covers burst geysers etc. (Please note that he does not have insurance.) The building manager...
QUESTION: My sister served as an accountant in a life insurance firm (that also dealt with retirement annuities, loans) for several years, but resigned upon discovering it's in conflict with Islamic principles. She now follows specific guidelines for the money she...
Question:- 1. Is a living annuity permissible for me to take out upon retirement. 2. If I have a voluntary Retirement annuity, I don't have access to the money until Retirement. Do I pay Zakaat on this? 3. If I take out an investment, my money is with the investment...