Transactions & Dealings >> Interest & Insurance
Question ID: 8880Country: India
Answer ID: 8880
Bismillah hir-Rahman nir-Rahim !
(Fatwa: 2307/1792=H/1429)
Interest and gambling is forbidden by the Quran and Hadith. An optional insurance which contains interest and gambling is haram in every case.
(2) He can invest it in business. If he is not able to do so, he can give it to anyone on muzarabah (work from a partner and money from other on percentage of profits). Or he can give it as interest-free loan to trustworthy poor people.
Allah (Subhana Wa Ta'ala) knows Best
Darul Ifta,
Darul Uloom Deoband, India