Prospects of Islamic insurance in India
Life and risk cannot be separated however it can be minimized through insurance. It is the main reason why insurance plays significant role in our daily life. Insurance is a policy between the insured and insurer to provide the benefits in the case of misfortune of the insured. However, from the Isl...
| Main Authors: | , |
|---|---|
| Format: | Proceeding Paper |
| Language: | English English |
| Published: |
2013
|
| Subjects: | |
| Online Access: | http://irep.iium.edu.my/29625/ http://irep.iium.edu.my/29625/1/PROSPECTS_OF_ISLAMIC_INSURANCE_IN_INIDA.pdf http://irep.iium.edu.my/29625/4/Prospects_of_Islamic_Insurance_in_India_Acceptance_letter.pdf |
| _version_ | 1848780157884563456 |
|---|---|
| author | Syed, Ahmed Salman Htay, Sheila Nu Nu |
| author_facet | Syed, Ahmed Salman Htay, Sheila Nu Nu |
| author_sort | Syed, Ahmed Salman |
| building | IIUM Repository |
| collection | Online Access |
| description | Life and risk cannot be separated however it can be minimized through insurance. It is the main reason why insurance plays significant role in our daily life. Insurance is a policy between the insured and insurer to provide the benefits in the case of misfortune of the insured. However, from the Islamic perspective, insurance contract contains the prohibited elements such as interest, uncertainty and gambling. This calls for an alternative insurance, i.e. Islamic insurance, suitable for both Muslims and non-Muslims. Many Muslim and non-Muslim countries have introduced Islamic insurance. India is ranked in the third highest Muslim population country after Pakistan and Indonesia. Thus, the potential growth of Islamic insurance is high and this paper highlights the prospects of Islamic insurance in India. |
| first_indexed | 2025-11-14T15:29:13Z |
| format | Proceeding Paper |
| id | iium-29625 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English |
| last_indexed | 2025-11-14T15:29:13Z |
| publishDate | 2013 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-296252013-04-03T04:22:17Z http://irep.iium.edu.my/29625/ Prospects of Islamic insurance in India Syed, Ahmed Salman Htay, Sheila Nu Nu HG1501 Banking Life and risk cannot be separated however it can be minimized through insurance. It is the main reason why insurance plays significant role in our daily life. Insurance is a policy between the insured and insurer to provide the benefits in the case of misfortune of the insured. However, from the Islamic perspective, insurance contract contains the prohibited elements such as interest, uncertainty and gambling. This calls for an alternative insurance, i.e. Islamic insurance, suitable for both Muslims and non-Muslims. Many Muslim and non-Muslim countries have introduced Islamic insurance. India is ranked in the third highest Muslim population country after Pakistan and Indonesia. Thus, the potential growth of Islamic insurance is high and this paper highlights the prospects of Islamic insurance in India. 2013-02 Proceeding Paper PeerReviewed application/pdf en http://irep.iium.edu.my/29625/1/PROSPECTS_OF_ISLAMIC_INSURANCE_IN_INIDA.pdf application/pdf en http://irep.iium.edu.my/29625/4/Prospects_of_Islamic_Insurance_in_India_Acceptance_letter.pdf Syed, Ahmed Salman and Htay, Sheila Nu Nu (2013) Prospects of Islamic insurance in India. In: International Interdisciplinary Conference on Recent Trends in Commerce Management, Engineering, Technology and Social Sciences , 25 February 2013, Choice College, Kothrud Pune. (Unpublished) |
| spellingShingle | HG1501 Banking Syed, Ahmed Salman Htay, Sheila Nu Nu Prospects of Islamic insurance in India |
| title | Prospects of Islamic insurance in India |
| title_full | Prospects of Islamic insurance in India |
| title_fullStr | Prospects of Islamic insurance in India |
| title_full_unstemmed | Prospects of Islamic insurance in India |
| title_short | Prospects of Islamic insurance in India |
| title_sort | prospects of islamic insurance in india |
| topic | HG1501 Banking |
| url | http://irep.iium.edu.my/29625/ http://irep.iium.edu.my/29625/1/PROSPECTS_OF_ISLAMIC_INSURANCE_IN_INIDA.pdf http://irep.iium.edu.my/29625/4/Prospects_of_Islamic_Insurance_in_India_Acceptance_letter.pdf |