Islamic Cleric urges Muslims to embrace insurance
Islamic Cleric, Mudashiru A Bada has urged Muslims across the country to consider taking insurance as a form of protection against future loss, noting that Islam supports it.
Bada, the Chief Imam of Oluyole Estate Extension, Ibadan Oyo State, who spoke at the 2016 Ramadan Tafsir Lecture organised by the Chartered Insurance Institute of Nigeria (CIIN) in Alausa, Ikeja noted that since Insurance is a form of risk mitigating tool, it has a place in Islamic religion.
According to him, “ Islam did not negate insurance, since it is a form of protection against future loss. Prophet, during his life time, practiced a form of insurance, although he did this as charity, because he never collected any form of money for rendering such service. The difference between then and now is that insurance operators have decided to operate insurance as an entity or a company, where managers get paid for providing insurance services.”
In some Islamic countries, such as Saudi Arabia, he said citizens are denied certain privileges because of lack of insurance, saying there is no ambiguity about insurance in Islam.
Speaking further, he said there is the tenets of ‘Utmost Good Faith’ in insurance contract that the insured and the insurer must abide by, noting that this should also be applicable to all human endeavour on earth.
He further noted that if Muslims, Christians and Pagans uphold this tenet, people will respect one another and live harmoniously irrespective of their religious differences, he added that this will make the world a perfect place to leave because man will live in peace.
Appealing to people to be closer to God by abiding by His teachings and avoid his don’ts, he said ‘human beings are created to worship God, as this is the essence of our creation.’ In the midst of this, he noted that humans must utilise the talents given to him by God to be successful in life, saying Islam is a complete way of life that teaches morality in totality.
Earlier, the Incoming Director General, CIIN, Olutayo Borokini, had appealed to the participants at the lecture to uphold the teachings of the month of Ramadan to make the society a better place to live in.
On the other hand, the Managing Director, Staco Insurance plc, Sakiru Oyefeso, said the Ramadan Tafsir was an initiative of CIIN, which started four years ago, adding that from then till now, it has recorded tremendous progress and followers both within and outside insurance industry, promising that the institute will continue to embark on this selfless service every year.