Application of umra and ruqba in disbursement of family takaful benefit:An analysis from shariah perspective
The paper aims to analyse the validity of practicing umra and ruqba concepts in disbursement of family takaful benefit from the shariah perspective. In the current practice of takaful, the disbursement of family takaful benefit is subject to the demise of takaful certificate holder. Upon maturity of...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English English |
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USM, MALAYSIA
2019
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/74276/ http://irep.iium.edu.my/74276/1/Asian%20Academy%20of%20Management%20journal.pdf http://irep.iium.edu.my/74276/7/74276%20APPLICATION%20OF%20UMRA%20AND%20RUQBA%20WOS.pdf |
| _version_ | 1848787939140567040 |
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| author | Rahman, Md. Habibur Abdullah, Faruk Osmani, Noor Mohammad |
| author_facet | Rahman, Md. Habibur Abdullah, Faruk Osmani, Noor Mohammad |
| author_sort | Rahman, Md. Habibur |
| building | IIUM Repository |
| collection | Online Access |
| description | The paper aims to analyse the validity of practicing umra and ruqba concepts in disbursement of family takaful benefit from the shariah perspective. In the current practice of takaful, the disbursement of family takaful benefit is subject to the demise of takaful certificate holder. Upon maturity of the certificate, if the certificate holder is alive, he will enjoy takaful
benefit but not the beneficiary or hibah recipient. Accordingly, he takes back the donation
that he made earlier, which makes the arrangement contentious, as long as the Islamic
value is concerned. To resolve this issue, the paper suggested that the takaful benefit could
be disbursed based on umra and ruqba concepts as they are subject to the survival of the contracting parties. Umra and ruqba are valid provided that once the donation is
executed, the donated object should never be returned to the donor. These concepts are appropriate for takaful because the beneficiary can enjoy takaful benefit only when the certificate holder dies before the maturity of certificate. Once the certificate holder dies,
takaful benefit cannot be provided to him. The paper argues that the application of umra and ruqba concepts minimises the consequential issues that arise when takaful benefit is disbursed by nomination or inheritance or absolute hibah. Analysing the opinions of the
classical Islamic jurists, the paper concludes that the application of umra and ruqba in disbursement of takaful benefit could be done with a structured checklist form. |
| first_indexed | 2025-11-14T17:32:53Z |
| format | Article |
| id | iium-74276 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English |
| last_indexed | 2025-11-14T17:32:53Z |
| publishDate | 2019 |
| publisher | USM, MALAYSIA |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-742762020-03-27T03:13:32Z http://irep.iium.edu.my/74276/ Application of umra and ruqba in disbursement of family takaful benefit:An analysis from shariah perspective Rahman, Md. Habibur Abdullah, Faruk Osmani, Noor Mohammad HG Finance HG3368 Islamic Banking and Finance The paper aims to analyse the validity of practicing umra and ruqba concepts in disbursement of family takaful benefit from the shariah perspective. In the current practice of takaful, the disbursement of family takaful benefit is subject to the demise of takaful certificate holder. Upon maturity of the certificate, if the certificate holder is alive, he will enjoy takaful benefit but not the beneficiary or hibah recipient. Accordingly, he takes back the donation that he made earlier, which makes the arrangement contentious, as long as the Islamic value is concerned. To resolve this issue, the paper suggested that the takaful benefit could be disbursed based on umra and ruqba concepts as they are subject to the survival of the contracting parties. Umra and ruqba are valid provided that once the donation is executed, the donated object should never be returned to the donor. These concepts are appropriate for takaful because the beneficiary can enjoy takaful benefit only when the certificate holder dies before the maturity of certificate. Once the certificate holder dies, takaful benefit cannot be provided to him. The paper argues that the application of umra and ruqba concepts minimises the consequential issues that arise when takaful benefit is disbursed by nomination or inheritance or absolute hibah. Analysing the opinions of the classical Islamic jurists, the paper concludes that the application of umra and ruqba in disbursement of takaful benefit could be done with a structured checklist form. USM, MALAYSIA 2019-03 Article PeerReviewed application/pdf en http://irep.iium.edu.my/74276/1/Asian%20Academy%20of%20Management%20journal.pdf application/pdf en http://irep.iium.edu.my/74276/7/74276%20APPLICATION%20OF%20UMRA%20AND%20RUQBA%20WOS.pdf Rahman, Md. Habibur and Abdullah, Faruk and Osmani, Noor Mohammad (2019) Application of umra and ruqba in disbursement of family takaful benefit:An analysis from shariah perspective. Asian Academy of Management Journal, 24 (1). pp. 107-123. ISSN 2180-4184 http://web.usm.my/aamj/default.html |
| spellingShingle | HG Finance HG3368 Islamic Banking and Finance Rahman, Md. Habibur Abdullah, Faruk Osmani, Noor Mohammad Application of umra and ruqba in disbursement of family takaful benefit:An analysis from shariah perspective |
| title | Application of umra and ruqba in disbursement of family takaful benefit:An analysis from shariah perspective |
| title_full | Application of umra and ruqba in disbursement of family takaful benefit:An analysis from shariah perspective |
| title_fullStr | Application of umra and ruqba in disbursement of family takaful benefit:An analysis from shariah perspective |
| title_full_unstemmed | Application of umra and ruqba in disbursement of family takaful benefit:An analysis from shariah perspective |
| title_short | Application of umra and ruqba in disbursement of family takaful benefit:An analysis from shariah perspective |
| title_sort | application of umra and ruqba in disbursement of family takaful benefit:an analysis from shariah perspective |
| topic | HG Finance HG3368 Islamic Banking and Finance |
| url | http://irep.iium.edu.my/74276/ http://irep.iium.edu.my/74276/ http://irep.iium.edu.my/74276/1/Asian%20Academy%20of%20Management%20journal.pdf http://irep.iium.edu.my/74276/7/74276%20APPLICATION%20OF%20UMRA%20AND%20RUQBA%20WOS.pdf |