Insurance

 ·          It is possible to include the Comprehensive insurance on the vehicle funded by the bank or to be purchased and the management may account a profit on the insurance within the cost including the insurance, provided that the insurance is with an Islamic takful insurance company.

·         It is not permissible to contract with traditional insurance companies for health insurance for Cham Bank employees with the existence of Islamic insurance companies.
- It is not permissible to contract car insurance  with the traditional insurance companies with the existence of Islamic insurance companies.

·          It is not permissible to finance the insurance  independently of the sale, because the Takaful insurance is a financial contribution to the insurance fund, and the money is not subject to financing and making profit, which in itself, but the bank can pledged to manage the insurance operation in informing and follow-up in addition to the mediation in the insurance process on behalf of the clients and the bank would take almethl (equal) commission as taken in the brokerage and management offices, , nor taken any increase for paying the client, because that on the basis of the loan.

·          Cham Bank  may not be a beneficiary from the insurance contract the client concludes with non-Islamic insurance company because commercial insurance is haram(not permissible) and it’s return is haram, however, if the customer has conducted the commercial insurance alone, and he was the beneficiary of the insurance contract and then he took replacement for the and paid to the Bank the bank may take it’s debit from it because the haram does not exceed two entities and sin is the conclusion of commercial insurance contract and taking offset on the client.

·          Cham Bank may not be to be an agent of the Arab Investment Guarantee Corporation and Export Credit Corporation because it is based on commercial insurance which is religiously prohibited.

·          The Bank may accept non-Islamic insurance concluded by the client on its own and shows that is the beneficiary firstly as collateral for the Bank's rights when the client applies for the banking facilities for being the mortgage provided the documents between the bank and the client what document that, for insurance on goods that are financed according to the Murabaha and Ijara and other formats the insurance contract must be with Takaful insurance company according to the committed  instructions of the Advisory Board of the Central Bank of Syria. 

Question: I insured my car with and Islamic insurance company,  and damaged outside Syria, may I obtain from Syria a police report that covers the car damage and present it to the insurance company to pay me for repairing my car although the insurance companies do not cover accidents outside the country boundaries?
Fatwa: A muslim is committed to honesty in all dealings, so he may not lie to the insurance company to compensate for the damage.
Question: I have a health insurance from an Islamic insurance company, and sometimes I do not take advantage of this insurance, and one of my relatives needs to see a doctor or pay medication bill, ask your doctor to list the preview and drugs under my name, so that I benefit from the insurance, but for the benefit of one of my relatives, Is this permissible? And will it be different  if this person does not have the price of treatment at all, and whether this matter is  a  charity act on my behalf?
Fatwa: It is not permissible to resort to lying or fraud to obtain the benefits of the insurance company, as well as not connected to obey God in a sin and may not be charitable  thru lying to the insurance company and intends to charity on those who do not have treatment cost.