Business operation model with sharia concerns and proposed resolution for Takaful
Islamic insurance or known as Takaful has been widely used in the world especially Islamic countries because of the awareness of implementing shariah principles in their business transactions. Takaful operators have implemented a few types of Takaful business operation model which believed to be...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
IDOSI
2017
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| Subjects: | |
| Online Access: | http://repo.uum.edu.my/21911/1/HSSJ%2012%201%202017%201%206.pdf http://repo.uum.edu.my/21911/ https://www.idosi.org/hssj/hssj12(1)17/1.pdf |
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| Institution: | Universiti Utara Malaysia |
| Language: | English |
| Summary: | Islamic insurance or known as Takaful has been widely used in the world especially Islamic
countries because of the awareness of implementing shariah principles in their business transactions.
Takaful operators have implemented a few types of Takaful business operation model which believed
to be based on shariah principles. However, there are some issues regarding the permissibility of the
models by shariah scholars. Hence, this paper aims to analyse the basic principles of Takaful and
eventually an analysis of available Takaful models that being used in the industry. In addition, a
proposed model will be discussed as the resolution of all of the models available. |
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