What is the ruling on Islamic investment portfolios managed by insurance and life insurance companies?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
An Islamic investment portfolio is a group of investment funds managed according to the Islamic system. The management of life insurance companies for these portfolios removes them from their legitimate role, because life insurance is not part of Islam in any way due to its inclusion of (excessive uncertainty/risk) and the unlawful consumption of people's wealth.
Summarized from the full answer at Ftawy · imported
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- Ftawy
- Original fatwa ID
- 80513
- Imported
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- Source text, unreviewed
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