Conventional insurance products in conflict with the Islamic faith, and for three reasons. Insurance is one of the elements of uncertainty, gambling and interest, which prohibits the Koran.
In the Sudan, in 1970 the concept called Takaful insurance was created in order to avoid these problems. The policy of the British Islamic Insurance Holdings (BIIH), a contract specifying the nature of risk and the time that it was clear to the participants. Each party pays its contribution to the Takaful fund and pool of Shariah-compliant, non-interest-bearing investments to maximize the value of the Fund.
Administration management fees and other related services are typically provided by a staff member appointed by the participants.
The agent, payment can be deducted, each before his contribution to the fund, whose operating costs and insurance claims against him.
LLOYDS TSB and HSBC introduced sharia bank accounts for 3 percent of British people are Muslims, in 2006. Although there is no legal obligation to a bank account, car insurance, which would be, which means that the Shariah requirements insurance market can be very large companies. But British Muslims have purchasing power of up to £ 20.5 million.
Abdulaziz Aljomaih, BIIH president said that the annual insurance premium paid by the Muslim population in the UK, usually equal to the entire Gulf region.
Market services to meet the burgeoning Sharia, and more than 300, with sharia financial institutions in the world, have contributed to high oil prices, which billions of petrodollars into the Gulf region floods.
more...
0 comentários:
Post a Comment