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Fatwa Answer
Assalamoalikum Mufti sahib!
I'm Khayyam pervez and I'm looking forward to start a parts distribution business in USA. Though my Suppliers have required me to get an insurance coverage as it's manadatory to get the contract. Furthermore to run my business there are no Islamic credit lines, mudarabah etc being offered by banks here. Although the banks are offering credits on lowest possible my question is is there anyway around that? ANY CLAUSE OR SOMETHING WHICH IF I AMMEND MAKES IT ISLAMIC/? Please help! im stressed and confused. What should i do in such state where surrvival depends all upon that? Please guide me Mufti sb. I might or might not be able to get my hands onto Takful insurance via a broker, but the banks, I dont get a list back for Islamic Banks offering credit services for running business.
Anxiously waiting for your reply.
Khayyam pervez
بسم اللہ الرحمٰن الرحیم
الجواب وباللہ التوفیق
Insurance is forbidden because it involves usury and gambling.
But in view of legal constraints, scholars have allowed insurance to the extent necessary to avoid legal prosecution. But this permission is based on the condition that if at any time it is time to make an insurance claim, and you happen to receive more from the company than the amount collected at that time, then the excess amount should be given as charity to the poor and needy without an intention of reward.
Therefore, in your case, there will be scope for you to get insurance due to the legal compulsion.
’’ يَا أَيُّهَا الَّذِينَ آمَنُوا إِنَّمَا الْخَمْرُ وَالْمَيْسِرُ وَالْأَنْصَابُ وَالْأَزْلَامُ رِجْسٌ مِنْ عَمَلِ الشَّيْطَانِ فَاجْتَنِبُوهُ لَعَلَّكُمْ تُفْلِحُونَ ‘‘(المائدہ:۹۰)
الضرورات تبیح المحظورات (الأشباہ والنظائر قدیم ۱۴۰)
(الْمَادَّةُ 18) : الْأَمْرُ إذَا ضَاقَ اتَّسَعَ يعني أَنَّهُ ظهرت َمَشَقَّةٌ فِي أَمْرٍ يُرَخص فيه ويوسع
(الْمَادَّةُ 19) : لَا ضَرَرَ وَلَا ضِرَارَ
(الْمَادَّةُ 20) : الضَّرَرُ يُزَالُ
(الْمَادَّةُ 21) : الضَّرُورَاتُ تُبِيحُ الْمَحْظُورَاتِ
(الْمَادَّةُ 22) : مَا أُبِيحَ لِلضَّرُورَةِ يَتَقَدَّرُ بِقَدْرِهَا
(الضرورات تقدر بقدرها)(مجلۃ الاحکلام العدلیۃ:۱/۱۸)
فقط واللہ اعلم بالصواب