Is Islamic insurance an alternative to conventional insurance?
Having insurance becomes a common practice and it is unavoidable by human being nowadays due to the complex nature of business transactions and life styles. However, the involvement of prohibited elements in insurance makes the Muslim scholars think to introduce takaful as an alternative to insuranc...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Choice College of Arts & Commerce, Pune
2013
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/30958/ http://irep.iium.edu.my/30958/1/Islamic_Insurance_and_Conventional_Insurance_-_Copy.pdf |
| _version_ | 1848780363646631936 |
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| author | Htay, Sheila Nu Nu Syed, Ahmed Salman |
| author_facet | Htay, Sheila Nu Nu Syed, Ahmed Salman |
| author_sort | Htay, Sheila Nu Nu |
| building | IIUM Repository |
| collection | Online Access |
| description | Having insurance becomes a common practice and it is unavoidable by human being nowadays due to the complex nature of business transactions and life styles. However, the involvement of prohibited elements in insurance makes the Muslim scholars think to introduce takaful as an alternative to insurance. Takaful products are designed to meet the needs of the society at large, including non-Muslims. The objective of this paper is to highlight that takaful can be an alternative to insurance and how takaful can bring benefits for the betterment of the society. This paper discusses problems of conventional insurance from the Islamic perspective. In addition, takaful concepts, its features, types and models are explained. |
| first_indexed | 2025-11-14T15:32:29Z |
| format | Article |
| id | iium-30958 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T15:32:29Z |
| publishDate | 2013 |
| publisher | Choice College of Arts & Commerce, Pune |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-309582014-07-24T03:15:01Z http://irep.iium.edu.my/30958/ Is Islamic insurance an alternative to conventional insurance? Htay, Sheila Nu Nu Syed, Ahmed Salman HG1501 Banking Having insurance becomes a common practice and it is unavoidable by human being nowadays due to the complex nature of business transactions and life styles. However, the involvement of prohibited elements in insurance makes the Muslim scholars think to introduce takaful as an alternative to insurance. Takaful products are designed to meet the needs of the society at large, including non-Muslims. The objective of this paper is to highlight that takaful can be an alternative to insurance and how takaful can bring benefits for the betterment of the society. This paper discusses problems of conventional insurance from the Islamic perspective. In addition, takaful concepts, its features, types and models are explained. Choice College of Arts & Commerce, Pune 2013-03 Article PeerReviewed application/pdf en http://irep.iium.edu.my/30958/1/Islamic_Insurance_and_Conventional_Insurance_-_Copy.pdf Htay, Sheila Nu Nu and Syed, Ahmed Salman (2013) Is Islamic insurance an alternative to conventional insurance? International Journal of Business, Management & Social Sciences, 2 (7). pp. 1-4. ISSN 2249-7463 |
| spellingShingle | HG1501 Banking Htay, Sheila Nu Nu Syed, Ahmed Salman Is Islamic insurance an alternative to conventional insurance? |
| title | Is Islamic insurance an alternative to conventional insurance? |
| title_full | Is Islamic insurance an alternative to conventional insurance? |
| title_fullStr | Is Islamic insurance an alternative to conventional insurance? |
| title_full_unstemmed | Is Islamic insurance an alternative to conventional insurance? |
| title_short | Is Islamic insurance an alternative to conventional insurance? |
| title_sort | is islamic insurance an alternative to conventional insurance? |
| topic | HG1501 Banking |
| url | http://irep.iium.edu.my/30958/ http://irep.iium.edu.my/30958/1/Islamic_Insurance_and_Conventional_Insurance_-_Copy.pdf |