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: | , |
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| Format: | Article |
| Language: | English |
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Choice College of Arts & Commerce, Pune
2013
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/30956/ http://irep.iium.edu.my/30956/1/PROSPECTS_OF_ISLAMIC_INSURANCE_IN_INIDA.pdf |
| _version_ | 1848780363092983808 |
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| 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 | 2025-11-14T15:32:28Z |
| format | Article |
| id | iium-30956 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T15:32:28Z |
| publishDate | 2013 |
| publisher | Choice College of Arts & Commerce, Pune |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-309562014-05-25T03:47:58Z http://irep.iium.edu.my/30956/ 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. Choice College of Arts & Commerce, Pune 2013-03 Article PeerReviewed application/pdf en http://irep.iium.edu.my/30956/1/PROSPECTS_OF_ISLAMIC_INSURANCE_IN_INIDA.pdf Syed, Ahmed Salman and Htay, Sheila Nu Nu (2013) Prospects of Islamic insurance in India. International Journal of Business, Management & Social Sciences, 2 (7). pp. 104-106. ISSN 2249-7463 |
| 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/30956/ http://irep.iium.edu.my/30956/1/PROSPECTS_OF_ISLAMIC_INSURANCE_IN_INIDA.pdf |