Is it permissible to purchase shares in an insurance company?

Insurance is riba which is haraam. It is therefore haraam to purchase shares in an insurance company. Dealing in shares in public companies and on the stock exchange are likewise haraam.

2 Comments

  1. it is permisseble for muslims to trade through inter net buying uros and dollar(FANANCIKA)?

    Reply February 2, 2016
    • ASSALAMU ALAIKUM
      Muhammad Sulaymaan Ishabangu

      While currency sales are permissible, it is necessary for both parties to take possession at the same time. Since this essential condition is not observed in internet buying and selling, such sales are not permissible.

      Was-salaam
      A.S.Desai
      For Mujlisul Ulama of S.A.

      Reply February 4, 2016

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