Why Insurance of Every Type is Haram

By Muhammad Aslam al Hindi

 

1. The paid and the recieved amounts are never same (Difference in amount on both side is Riba/Usury/Interest)
2. Insurance Company invests the money recieved in Riba based projects (Again Riba!)
3. Similitude of gambling as either there is big money gain or insurance fee loss
4. The gain on insurance fee is unknown, indefinite & chance based (Indefinite transaction is Haram)
5. No Trust on Allah as the Protecter and an attempt to safeguard against divine decree