THE DETERMINATION OF PORTION OF TABARRU’ FUND IN SHARIA INSURANCE

• Main Author: ANDREA PRATAMA (NIM: 10114022), ASEP
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/25840
• Institution: Institut Teknologi Bandung

This Final Project aims to construct the model of rate of return in sharia invesment, construct the model of portion of tabarru’ fund, determine its value using Monte-Carlo simulation, and determine what factors affect its value. In sharia insurance, premiums paid by participants will be included in two accounts, participant’s account and joint account tabarru’ which will be used to pay claims from partic¬ipants who died. Islamic &#64257;nance does not use interest rate but uses revenue or pro&#64257;t sharing. <br /> <br /> The Model of the rate of return in Islamic &#64257;nance is modeled as Brownian Stochastic process which will be used in the model of portion of tabarru’ fund. To optimize the allocation of premium from participants, a model will be constructed to equalize the value of expectations of total claims take from tabarru’ fund, the factors that affect value of portion of tabarru’ fund will be determined. <br /> <br /> The conclucions of this Final Project are the model of portion of tabarru’ fund that has been constructed will give total value of tabarru’ fund that is more ef&#64257;cient than the portion of tabarru’ fund will affected by gender, coverage period, and the age of insured at registration time. <br />