Gifts by insurance company
Assalamu alaikum mufti sahab
My question is can we accept gifts from insurance companies ?
One of my local mufti said that it is permissible to accept gifts from insurance company because the money of insurance company having is people’s money and they are investing people’s money in business so that’s why it is permissible to accept gifts from insurance companies…. Please reply quickly
Answer
WaʿAlaykumus Salām Wa Raḥmatullāhi Wa Barakātuh
Our sincere apologies for the belated response.
It should be noted that an insurance company’s main source of income is derived from interest which is a forbidden element in terms of the Sharīʿah.
In fact, it is a well-known fact, as mentioned in the Qur’ān, that Allāh ﷻ wages war with the one who involves himself in interest.
Furthermore, it is most likely that such gifts are bought with monies accrued from interest-bearing transactions, and very rarely are they bought otherwise.
Therefore, one should avoid accepting gifts offered by insurance companies.
We understand the point being made by your local Muftī, however, it is not as simple as saying that the insurance companies are using the money of others rather than interest. The fact of the matter is that the monies received from clients are done on a basis that is in direct conflict with the Sharīʿah like the aspect of contractual uncertainty for example; hence, such monies become unlawful.