What is the ruling on selling shares and donating their proceeds, and how can one legitimately dispose of shares in a commercial insurance company that were purchased without the questioner's knowledge?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
One can dispose of unlawful shares by requesting the cancellation of the contract from the insurance company. In such a case, it is permissible to benefit from the principal amount that was paid, while the excess should be disposed of by giving it to the poor and needy. If the company does not accept the cancellation, then the shares should be sold, and only the principal amount should be taken, with the excess given as charity to the poor, because it is lawful for them, as stated by Sheikh al-Islam Ibn Taymiyyah and al-Nawawi.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/160552
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 160552
- 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