Galactico
Sallam
Shafique Bro can you answer this question for me.
Is working for an insurance company allowed in Islam like not dealing with the payments side of things but working say for instance in the IT department?
shafique
Salaam,
I am a bit biased - I am an actuary and I work for an insurance company.
Insurance is a social good and within the norms of Islam, however interest - both the taking and charging of it is against Islam.
My day to day work involves using interest rate calculations, but I tend to develop products which have more of an investment element - and hence a risk element.
But my main skill is the development of risk products - death benefits, critical illness, income protection etc.
Also, there are Islamic insurance companies who only do 'Takaful' and other Islamic insurances.
In my opinion therefore, it is ok for Muslims to work in insurance companies. I have many muslim friends who work in banks - and there, arguably, the unislamic nature of their business is more than in any insurance company. I think they are comfortable working there and do not see it as contrary to their faith.
My advice to you will be to follow your conscience - do not take a job if you feel it compromises what you believe in. Ask for advice, of course, but you have to decide at the end of the day.
Wasalaam,
Shafique
Galactico
Hey thanks for your advice I will do that. :)