Transactions & Dealings >> Interest & Insurance
Question ID: 146931Country: India
Answer ID: 146931
Bismillah hir-Rahman nir-Rahim !
(Fatwa: 291/267/B=3/1438)
(1) The business of LIC is based on interest and gambling; hence it is not lawful for a Muslim to avail such policy.
(2) It is not lawful for a Muslim to take loan from a bank in normal condition. It puts a man in trial and invites misfortune and problems in the house and business.
Allah (Subhana Wa Ta'ala) knows Best
Darul Ifta,
Darul Uloom Deoband, India