Is it permissible to own shares in a conventional, non-Islamic insurance company?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
Commercial insurance, such as life, health, and car insurance, is prohibited because it involves (excessive uncertainty) and gambling. It is not permissible to buy shares in its companies, as Allah Almighty says: (And cooperate in righteousness and piety, but do not cooperate in sin and aggression). As for cooperative insurance, it is permissible to deal with it if it is regulated by -compliant controls, whereby individuals or institutions pay money into a fund to compensate those who suffer illness or an accident, with the permissibility of paying salaries to those managing the fund and investing the money.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/31681
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 31681
- 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