Fatwa: # 21297
Category: Financial Transactions
Country: South Africa
Date: 26th June 2012

Title

What is the view on retirement annuities and Takaful insurance?

Question

  1. What is the view on investing in retirement annuities?

 

  1. What is the view on Takaful insurance?

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

 

As-salāmu ‘alaykumwa-rahmatullāhiwa-barakātuh.

 

  1. To give a view on investing in retirement annuities, it is necessary that we review the contract of the retirement annuity.

 

  1. The Darul Ifta currently has the view of impermissibility on Takaful insurance.  However,further research is in process on the matter.

 

And Allah Ta’āla Knows Best

Mufti Hussein Issa,
Mozambique 

 

Checked and Approved by,
Mufti Ebrahim Desai.
www.daruliftaa.net 

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