To what extent is this transaction permissible, which is based on paying a monthly sum to obtain a larger sum after a specified period, or for the heirs to receive certain sums in cases of death or total permanent disability? And does the ruling differ if the bank is usurious or the insurance company deals with usury?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
The aforementioned insurance is Islamically forbidden () due to its inclusion of excessive (uncertainty), qimar (gambling), and riba (usury). Consequently, there is no need to ascertain whether the bank or insurance company deals in usury, as the commercial insurance contract itself inherently involves contracts of riba, gharar, and (gambling).
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/84511
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 84511
- 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