Working for Insurance Institutions

Q: Is it permissible to work at financial services institutions such as Sanlam, Old Mutual and Metropolitan Life. These institutions deal with Retirement Funds, Insurance (long term and short term), Investments, estate planning, etc. A. It is not permissible to work for these institutions because most of the financial products they sell contain the element […]

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Paying Mortgage Bond with Interest

Q: Can we pay off our mortgage with interest money? A: A mortgage bond may not be paid off with interest money. Interest or usury must be given to the poor or used for the benefit of the general public in amenities such as public toliets and bathrooms, building bridges and roads etc. It is […]

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Pregnancy and Medical Aid

Q: Is there any medical insurance/health plan in South Africa that is permissible? I'm specifically looking for one that caters for a giving birth at a hospital.   A: Not all medical aids and hospital plans are permitted. As a guide, if a female intends to fall pregnant and wishes to take out medical aid […]

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Insurance for Charitable Organisation

Q: As a registered charity, we have to take out insurance for the building and public liability cover. One aspect of that insurances is that it covers the trustees in case of death. One of our trustees has passed away and we now have a dilemma, can we make a claim against that insurance as […]

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Insurance for Charitable Organisation

Q: As a registered charity, we have to take out insurance for the building and public liability cover. One aspect of that insurances is that it covers the trustees in case of death. One of our trustees has passed away and we now have a dilemma, can we make a claim against that insurance as […]

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Selling Insurance

Q: I am unemployed and need to find employement as soon as possible. I live in a small town and the only job I can get is to sell insurance for a big company. Is it permissible for a Muslim to sell insurance products that include educational plans, investments, pension plans and funeral cover? A: […]

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Selling Insurance

Q: I am unemployed and need to find employement as soon as possible. I live in a small town and the only job I can get is to sell insurance for a big company. Is it permissible for a Muslim to sell insurance products that include educational plans, investments, pension plans and funeral cover? A: […]

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Forex Trading

Q: Is online Forex trading aloud in islam? A: According to our research, Forex Trading is not allowed. Forex is basically trading over the internet without physical possession and delivery of currency. Shari'ah has placed certain restrictions on currency trading so that Muslims can be safeguarded from Ribaa or interest. One condition is that at […]

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Forex Trading

Q: Is online Forex trading aloud in islam? A: According to our research, Forex Trading is not allowed. Forex is basically trading over the internet without physical possession and delivery of currency. Shari'ah has placed certain restrictions on currency trading so that Muslims can be safeguarded from Ribaa or interest. One condition is that at […]

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Disposing of Bank Interest

Q: What can we do with the interest we get through our bank saving account? A. Interest money must be given to the poor without making the intention of Thawaab (reward) for it. It can also be used to pay rates and any form of state taxation. Mufti Siraj Desai

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