Insuring one's business and working in an insurance company

Q:

1. Is insuring one's business halal or haram?

2. Is working in an insurance business allowed in Islam? 

A:

1. Insurance is haraam as it contains the elements of gambling and interest in it. Hence, the income earned through such an occupation is haraam.

2. Working for such a company is impermissible as one will be involved in haraam.

And Allah Ta'ala (الله تعالى) knows best.

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)