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Over any given period of time, anxiety befalls us as individuals, families, or organizations, and we are usually told that the ultimate solution lies in buying insurance. So much so, that in today's society, uninsured people are the subject of pity, for it is assumed that they are too poor to buy insurance. If they can afford it but do not buy it, they are directed to seek psychiatric help.
Many people have enquired about the permissibility under Shareeah of the so-called Islamic ijara mortgages recently announced by banks such as HSBC. As it is in the interest of all Muslims to have a current and accurate understanding of the issues involved here, I have concluded the following judgement based upon the Quran and Sunnah in accordance with the understanding of the main school of thoughts.