Category: Business Matters
Fatwa#: 39482
Asked Country: Trinidad and Tobago

Answered Date: Feb 02,2018

Title: Job in an insurance company

Question

I have been offered a job in an insurance company as the Chief Financial Officer (Accountant) which will entail 

- ensuring all transactions are recorded properly 

- preparing financial statements/reports/analysis both on a future projection and a past basis

I will not be participating in dealing with direct insurance transactions.

The majority of income from the company is Motor Insurance which everyone is required to have in my country, they also offer pension plans, health insurance plans etc.

Is this job permissable to accept? I have read various answers and I am not clear as most of what I do will be recording transactions and reporting as a financial professional. 

Note that in the current employment market senior positions are difficult to come by across all industries. 

 

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

Your concern for the permissibility of the job in reference is an expression of your Iman and Allah consciousness. May Allah grant you halal and wholesome income. Aameen.

 

If you are working as an accountant and you are not directly involved in the insurance transactions, then your job as accountant in the company is permissible. [i]

However, as Muslims we are averse to conventional insurance as it involves interest, gambling and uncertain, all of which are clearly prohibited in Shariah. It is not advisable to work in such an environment. [ii]

  

And Allah Ta’āla Knows Best

Mirza Mahmood Baig

Student Darul Iftaa

Jeddah, KSA

Checked and Approved by,
Mufti Ebrahim Desai.

 



[i]   صحيح مسلم (3/ 1219) 

حَدَّثَنَا مُحَمَّدُ بْنُ الصَّبَّاحِ، وَزُهَيْرُ بْنُ حَرْبٍ، وَعُثْمَانُ بْنُ أَبِي شَيْبَةَ، قَالُوا: حَدَّثَنَا هُشَيْمٌ، أَخْبَرَنَا أَبُو الزُّبَيْرِ، عَنْ جَابِرٍ، قَالَ: «لَعَنَ رَسُولُ اللهِ صَلَّى اللهُ عَلَيْهِ وَسَلَّمَ آكِلَ الرِّبَا، وَمُؤْكِلَهُ، وَكَاتِبَهُ، وَشَاهِدَيْهِ»، وَقَالَ: «هُمْ سَوَاءٌ»

 

[ii]   امداد الاحکام: 4/386-390، کفار جو مال حرام طریقہ سے حاصل کریں اس کا حکم

 

  You may refer to the following link for some guidelines and beneficial advices by Hadhrat Mufti Taqi Uthmaani Hafizahullaah for accountants.

http://askimam.org/public/question_detail/7872.html

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