The Qualification of Islamic Insurance Contract
The concept of insurance, which emerged in the West in the fourteenth century, was introduced to the Islamic world in the nineteenth century. The religious ruling of insurance, which became widespread in Muslim countries in a short time, started to be discussed among the faqihs. In this process, faq...
Saved in:
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Kütahya Dumlupınar Üniversitesi
2024-12-01
|
| Series: | İslam Medeniyeti Araştırmaları Dergisi |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/download/article-file/4127110 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1850052370341298176 |
|---|---|
| author | Mehmet Ali Aytekin |
| author_facet | Mehmet Ali Aytekin |
| author_sort | Mehmet Ali Aytekin |
| collection | DOAJ |
| description | The concept of insurance, which emerged in the West in the fourteenth century, was introduced to the Islamic world in the nineteenth century. The religious ruling of insurance, which became widespread in Muslim countries in a short time, started to be discussed among the faqihs. In this process, faqihs, who addressed the issue from the perspective of classical contract theory in fiqh, stated that insurance was not permissible due to prohibited elements such as ignorance, gambling, loss, gharar (uncertainity), and interest. This negative opinion on the validity of insurance induce Muslims with interest-sensibility to seek an alternative to conventional insurance. These efforts paved the way for the emergence of the concept of Islamic insurance. Although Islamic insurance has been used in some academic studies for other types of insurance other than conventional insurance, the term “takaful insurance” is meant by this concept in the finance sector today. In Turkiye, however, the concept of “participation insurance” has recently been widely used instead of takāful. It is remarkable that the Islamic insurance system, which began on a simple cooperative basis, evolved into a mixed structure in the following period. For this reason, Islamic insurance contracts are considered to be in the category of “compound/complex contracts” in modern economics. In this study, the qualificaiton of Islamic insurance contracts will be analyzed based on the typical contracts in the fiqh literature. |
| format | Article |
| id | doaj-art-197e01c2845f4f3191532dbefc68fc26 |
| institution | DOAJ |
| issn | 2149-0872 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | Kütahya Dumlupınar Üniversitesi |
| record_format | Article |
| series | İslam Medeniyeti Araştırmaları Dergisi |
| spelling | doaj-art-197e01c2845f4f3191532dbefc68fc262025-08-20T02:52:49ZengKütahya Dumlupınar Üniversitesiİslam Medeniyeti Araştırmaları Dergisi2149-08722024-12-019249651810.20486/imad.152924096The Qualification of Islamic Insurance ContractMehmet Ali Aytekin0https://orcid.org/0000-0002-0318-7515ANKARA HACI BAYRAM VELİ ÜNİVERSİTESİThe concept of insurance, which emerged in the West in the fourteenth century, was introduced to the Islamic world in the nineteenth century. The religious ruling of insurance, which became widespread in Muslim countries in a short time, started to be discussed among the faqihs. In this process, faqihs, who addressed the issue from the perspective of classical contract theory in fiqh, stated that insurance was not permissible due to prohibited elements such as ignorance, gambling, loss, gharar (uncertainity), and interest. This negative opinion on the validity of insurance induce Muslims with interest-sensibility to seek an alternative to conventional insurance. These efforts paved the way for the emergence of the concept of Islamic insurance. Although Islamic insurance has been used in some academic studies for other types of insurance other than conventional insurance, the term “takaful insurance” is meant by this concept in the finance sector today. In Turkiye, however, the concept of “participation insurance” has recently been widely used instead of takāful. It is remarkable that the Islamic insurance system, which began on a simple cooperative basis, evolved into a mixed structure in the following period. For this reason, Islamic insurance contracts are considered to be in the category of “compound/complex contracts” in modern economics. In this study, the qualificaiton of Islamic insurance contracts will be analyzed based on the typical contracts in the fiqh literature.https://dergipark.org.tr/tr/download/article-file/4127110fiqhislamic legislationinsuranceconventional insuranceislamic insurancetakāfulparticipation insurancefiqhislamic legislationinsuranceconventional insuranceislamic insurancetakāfulparticipation insurance |
| spellingShingle | Mehmet Ali Aytekin The Qualification of Islamic Insurance Contract İslam Medeniyeti Araştırmaları Dergisi fiqh islamic legislation insurance conventional insurance islamic insurance takāful participation insurance fiqh islamic legislation insurance conventional insurance islamic insurance takāful participation insurance |
| title | The Qualification of Islamic Insurance Contract |
| title_full | The Qualification of Islamic Insurance Contract |
| title_fullStr | The Qualification of Islamic Insurance Contract |
| title_full_unstemmed | The Qualification of Islamic Insurance Contract |
| title_short | The Qualification of Islamic Insurance Contract |
| title_sort | qualification of islamic insurance contract |
| topic | fiqh islamic legislation insurance conventional insurance islamic insurance takāful participation insurance fiqh islamic legislation insurance conventional insurance islamic insurance takāful participation insurance |
| url | https://dergipark.org.tr/tr/download/article-file/4127110 |
| work_keys_str_mv | AT mehmetaliaytekin thequalificationofislamicinsurancecontract AT mehmetaliaytekin qualificationofislamicinsurancecontract |