Asalaamalaikum,
Please can somebody advise if the free Global travel insurance provided with this account is permissible to benefit from as an alternative to taking out a standard travel insurance package which I understand to be haram? There is no fee for this account but the account holder must meet certain eligibility criteria.
Also, is the £125 opening gift permissible to accept?
Jazakallah Khair
Wa alaykum salaam,
This product does not look Shariah compliant. The eligibility criteria for having a Premier account require:
Have an individual annual income of at least £75,000 and 1 of the following with HSBC UK: a mortgage, an investment, life insurance or a protection product.
Mortgage, investment, life insurance and protection products are all not compliant.
Jazakallah Mufti Sahib for your swift response- very much appreciated.
I already have the account on the basis of my salary. I don’t have any other the other haram products that are normally required.
Based on this, can I take advantage of the free travel insurance?
I’m fairly certain that the £125 incentive would not be permissible but would value your opinion on that too.
Asalaamalaikum Sheikh,
Did you have any further thoughts on the travel insurance benefit given the account was opened without meeting the non-compliant criteria?
جزاك الله خير