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Q.

Is it right that in islam it is forbidden to take life insurance policy and take interest on money as this is against the will of Allah

Tags: money, relationships, health
Asked by Satya Pandey, 19 Dec '09 10:00 am
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Answers (4)

1.

Well Dear Satya ,
Interest seeking and exploitative forces of economic enslavement have established a firm grip over the resources of the world and their control and dominance has been consistently increasing.
Growing unemployment, disparity of income and wealth, poverty and deprivation, fraud and corruption, marginalization of justice and righteousness and accompanying loss of human freedom clearly shows that antihuman forces has usurped power and control over the globe and are trying the enslave the human race.
This enslavement differs from enslavement of the bygone era in that the slave may not be aware of his state of slavery. The slave continues to work efficiently thinking that he/she is working for himself/herself or for his/her country or community. However, most of the fruits of his/her labour get transferred to the slave-masters through the fraudulent economic procedures leaving for him/her only what is considered essential for his/her sustenance. This is what constitutes ...more
Answered by commonman, 19 Dec '09 11:58 am

 
  
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2.

Yes, thee are so many other forbidden things that Islam preaches even in food habits...but...who care for and to what extent is a question that remains unanswered...!
Answered by Dil Se, 19 Dec '09 10:03 am

 
  
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3.

May be as i have seen in the bank when the work was done manually some muslim customer used to give in writing that no interest should be paid to their deposits
Answered by krish, 19 Dec '09 11:32 am

 
  
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Almost all the conventional insurance companies transact their business based on interest, and it is this interest aspect which is deemed absolutely haraam in Islam. But Alhamdolillah, today there are several Islamic Insurance Institutions which provide insurance cover on various aspects based on Shariah principles, and there is absolutely no harm in seeking insurance from such interest-free institutions. "Life is given by Allah and to insure it or assure it is a crime in the eyes of Allah,"In Islam, interest comes under the category of riba, or usury. A Muslim is not allowed to receive, pay or witness interest payments. However, the concept of interest has been twisted and abused to such an extent that many Muslim countries have allowed financial institutions to engage in interest-based activities.The scope of forbidding Interest the Prophet has clearly told us those who are parties to an interest-based contract. Jaabir reported that the Prophet cursed the one who consumes riba, the ...more
Answered by iqbal ahmed, 19 Dec '09 10:25 am

 
  
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