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Sharia car insurance: For the first time, Muslims can buy policies in line with Islamic law
Muslim drivers are, for the first time, being offered insurance that obeys the teachings of the Koran.
Salaam Halal Insurance provides the same services as conventional companies but it is compliant with Islamic law. This means it cannot invest in any organisation associated with gambling, alcohol or pork. It is also not allowed to take financial risks or speculate with revenue.
Halal insurance – known as takaful – differs from standard British products because the risk is shared between policyholders. Drivers pay into a fund, which is then invested in sharia-compliant ventures and any profits are put back into the fund.
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