What is the ruling on insuring a car with the Cooperative Insurance Company, which involves paying a certain amount and coverage of up to 3 million Saudi Riyals, with the remainder being returned to the shareholders? Is it permissible or impermissible?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
We have not been informed about the activities of the aforementioned company. However, insuring things is done in two ways: Cooperative insurance, which is permissible if it adheres to guidelines, because it is a pure donation and falls under the saying of Allah Almighty: "And cooperate in righteousness and piety." Its companies are known as Islamic insurance companies. Commercial insurance, on the other hand, is forbidden due to the excessive (uncertainty) and the forbidden gambling it involves.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/39090
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 39090
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy