Browse one of the world's largest database of Islamic finance Q&As available online.
Search Results
Indemnity Insurance For Banks
It is permissible for the bank to seek Takaful against the types of losses mentioned so long as the amount of repayment does not exceed the amount...
It is permissible for the bank to seek Takaful against the types of losses mentioned so long as the amount of repayment does not exceed the amount...
Returning Benefits In Excess Of Expenses
It is lawful for the bank to use the benefits paid out to it by the Takaful company to make a direct payment for expenses associated with the...
It is lawful for the bank to use the benefits paid out to it by the Takaful company to make a direct payment for expenses associated with the...
Market Or Replacement Value
The insured is entitled to receiving benefits equal to the actual amount of damage experienced based on the market value of the goods on the day of...
The insured is entitled to receiving benefits equal to the actual amount of damage experienced based on the market value of the goods on the day of...
Entitlement To Policy Benefits
It is lawful for the person to receive benefits for the value of the destroyed car since ownership was transferred to him without his putting up...
It is lawful for the person to receive benefits for the value of the destroyed car since ownership was transferred to him without his putting up...
The client is not in a position to determine the type of coverage that will be sought for Murabaha goods purchased through the bank.
Automobile Insurance
Automobile Takaful is lawful provided the benefit paid out to the insured is equivalent to the amount of actual damage and not more.
Automobile Takaful is lawful provided the benefit paid out to the insured is equivalent to the amount of actual damage and not more.
Insuring For More Than Value
Takaful coverage is not lawful for an amount greater than the actual value of goods. It should be a sum that represents actual value, inclusive of...
Takaful coverage is not lawful for an amount greater than the actual value of goods. It should be a sum that represents actual value, inclusive of...
Working For Insurance Company
It is unlawful to work for an employer whose primary business is insurance (even if one does not participate directly in the transactions), unless...
It is unlawful to work for an employer whose primary business is insurance (even if one does not participate directly in the transactions), unless...
Compulsory Insurance
As for the sin of compulsory forms of insurance in some countries, namely automobile, medical, property, and the like, the sin devolves to the one...
As for the sin of compulsory forms of insurance in some countries, namely automobile, medical, property, and the like, the sin devolves to the one...
Purchasing Healthcare Insurance
It is not permissible to purchase insurance when one is not legally obligated to purchase insurance (e.g. for property, goods, travel); though...
It is not permissible to purchase insurance when one is not legally obligated to purchase insurance (e.g. for property, goods, travel); though...
Disclaimer: Although care has been taken in preparing the information contained in this Q&A database, Ethica Institute of Islamic Finance cannot guarantee the accuracy thereof. Anyone using the information does so at their own risk and shall be deemed to indemnify Ethica Institute of Islamic Finance from any and all injury or damage arising from such use. One should double check with a qualified scholar to see whether the Q&A applies to one's particular situation.
ASK AN ISLAMIC FINANCE QUESTION
Each question is reviewed by an Islamic finance expert and approved by a scholar.
