Description
Book SynopsisThis timely Encyclopedia is a much-needed thorough reference on Islamic insurance policy and the ways in which this can be modelled to cohere with
Shari'ah law. The authors explore the ways in which Islamic insurance can be halal, contradicting the widely held belief that insurance policies are not appropriate or moral, utilizing evidence from both the
Qu'ran and top Islamic scholars to do so. The book explores
Takaful, an insurance paradigm that is in accordance with Islamic principles and suits the needs of modern Islamic economies and communities. It examines the practices, principles, framework and importance of the notion of
Takaful, using evidence from the
Qu'ran and Islamic teachings to support this. Chapters examine how
Takaful is different to conventional insurance models that are not permissible under
Shari'ah law, contradicting misconceptions about the possibility of an insurance policy that is achievable within Islamic communities. The book further explores the room for cooperation between
Takaful services and Islamic banking, offering insight into how this can be improved in the future. A valuable asset for Islamic insurance and Islamic economics scholars, this timely book offers a thorough analysis of
Takaful, Retakaful and Islamic insurance in our modern world. It will also be a useful read for those practising
Takaful to ensure that their advice coheres with
Shari'ah law.
Trade Review‘This volume is a good reference for those new to the field and a good guide for the pure qualitative and Islamic aspects of Takaful.’ -- Faizal Ahmad Manjoo, The Muslim World Book Review
Table of ContentsContents: Preface Foreword Introduction Bibliography 1. A general introduction to Takaful 2. Understanding the pillars of Takaful 3. Regulatory framework of Takaful 4. Takaful and conventional insurance – A comparison 5. Practices of Takaful 6. Retakaful and its importance to Islamic Finance 7. Contemporary issues in Takaful implementation Index
