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Ruling on buying cooperative shares for insurance (as opposed to commercial insurance)

April 15, 2014

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Q. What is the ruling on buying shares in the cooperative insurance company that is offering shares on the Saudi stock market?. A. The shar’i ruling on this matter may be summed up as follows:  1 – The shar’i ruling on insurance  The majority of contemporary scholars are of the view that commercial insurance is haraam andcooperative […]