The Law of Sharia Insurance According To Islamic Jurisprudence

In Islam - There are two things that are offered by the syariah insurance company in the presidency of the Fund participants. First, the system for the results past-door to the results of the paperwork of the Fund. And the second, a system for risk surrounded by fellow participants.

Read More: History Of Islamic Insurance

The first system to use the Akkadian tijarah, namely the concurrence ended for public message purposes. While both of these systems use the tabarru ' bargain, i.e. a accord which is finished for the slant toward of the innocent humor and charm incite your fellow participants. The funds collected from both systems are estranged and placed in defense to two remove accounts. 

Shariah-tolerant insurance company will subsequently manage the funds and funds belonging to the tabarru ' participants (tijarah), based very more or less speaking the concept of results-based instruments invest it considering the Sharia. So, the meant funding tabarru ' collected passable to pay claims. Fund participants as well as are received to be developed in accordance following the planned. 

Insurance which in Arabic is called at-ta'min, is the accord belongs to the calculation and not yet appearing concerning the in the future loan of Islamic fiqh. This of course raises the aeration and the discussion together in the middle of the scholars into two opinions, that justifies and banned. 

Opinions that outlawed a customary insurance argue, that contain maysir (gambling), gharar (uncertainty) and riba (amalgamation). The fact is, with analyzed the outfit or Islamic jurisprudence implying that, in Islamic teachings contained the substance  Islamic insurance. 

The substance of that principle of them entertain confirm as in the Hadith of the Prophet, that the Muslim Brotherhood is afterward than the fable of the one body (narrated by Muslim). Similarly, the principles upon the planning or anticipation towards catastrophe (An-Nisa verse 9).

The gloss that gave birth to the DSN-MUI fatwa No. 21/DSN-MUI/X/2001, in which the principle of within plenty limits insurance and refused to permit in Sharia insurance. In the report, banning Sharia insurance companies to invest funds upon things that are prohibited by Islamic jurisprudence. And Allah knows best.