11. Insurance

This subject is a little touchy and many scholars are divided on opinions about it. Half says it is Haram and half says it is Halal. Because of that, I urge all of you to look more in depth into their arguments and make your own decisions before investing in Insurance. As for me, I believe that it is Halal both as an investment and a risk-management tool. If you have read the arguments and found yourself on the Haram side of the fence, by all means, stick true to what your heart believes in.

Next Chapter...

Comments

Post a Comment

Popular posts from this blog

It is difficult for us Muslim minorities in Singapore to take care of our finances in a Halal manner when we live in a westernised society like Singapore. How do we ensure our money stays Halal when there are so many things Haram so easily accessible to us? As a millennial growing up in Singapore, I have gotten used to searching the internet for answers whenever I’m in doubt. So, it’s easy, isn’t it? Just google Islamic Finance and ta-daa! You are set and ready to manage your finances in a Halal way! Right? Umm, yeah. It’s not that simple. In my searches, what I found online are pages of pages of text describing Syariah law and references to Hadiths describing the reason behind each and every law with regards to finance. Though it is good to know your Hadiths, most of us common folk do not have the time to search every inch of the internet and refer to scripts every time we need to make a financial decision. By the way, I did all of that. And I decided to simplify it for the rest of y...
Read more