What is the ruling on working for an insurance agency that insures petroleum equipment for commercial insurance companies?
Commercial insurance is forbidden due to its elements of (excessive uncertainty), gambling, and riba (usury). Islamic Fiqh Academies have reached a consensus on its prohibition. It is not permissible to work in the field of commercial insurance due to its being an assistance in sin, as Allah Almighty says: "And cooperate in righteousness and piety, but do not cooperate in sin and aggression." One must repent and leave this work, for whoever abandons something for the sake of Allah, Allah will compensate him with something better, and "And whoever fears Allah - He will make for him a way out And will provide for him from where he does not expect."
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Original fatwa ID
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy