Islam is the religion which gives the complete package of rules and regulation, which helps the people to lead their life properly. Islam, does not only gives the rules for running the social life but it also gives the rules to run the economic condition of the world. Islam also gives us message about the insurance. This article will discuss this topic.

In Islamic sharia interest is totally prohibited. Earning money through interest is a policy, where a person does earn money without any effort and it is totally banned in Islamic laws. Not only the interest all types of gifts, financial facilities and giving condition is prohibited for giving loan. By these words it does not mean that only taking interest is “HARAM”, but all of this style profit is also “HARAM”. In that sense insurance is also “HARAM”.

Insurance is the policy which is based on interest. Sometimes it becomes worst policy then interest. In insurance people gives an amount of money based on different perspective, like health issue, accident issue, education issue and many other issues, but it is not the confirm policy of get the money. Now, if this condition does not fulfill then the person who deposits the money into the insurance organization, he may lose the total amount of money. So then the money becomes totally “HARAM”. That’s why Islam does not support insurance.