Saturday, May 15, 2010

Now, fatwa against insurance

Even before the controversy over the fatwa (opinion) related to Muslim women working in close proximity to men in offices has died down, the prestigious Sunni Muslim seminary, Darul Uloom, Deoband in Saharanpur district of Uttar Pradesh has reportedly come out with a fatwa, which has decreed that in the light of the “Shariat,” opting for an insurance policy is against the tenets of Islam. The fatwa was issued by the Darul Ifta department of Darul Uloom in response to a query.
The seminary has reportedly declared that since the calculation of the money pledged in the policy is based on “interest,” it was un-Islamic to opt for one.
An insurance policy is essentially a contract between the person assured and the company in which a fixed amount is pledged to be paid to the person, or his nominee against losses and in the event of his death.
The Deoband decree held no meaning for hundreds and thousands of Muslims in India, who regularly opt for an insurance policy. For working Muslim men and women taking one in a public sector insurance company also entitles them to income tax rebate.

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