Some Issues In Risk Management and Insurance In a Non-Muslim State
Introduction This paper is not intended to be a discourse on whether or not insurance is permitted under Islam. The subject is controversial and, hence, there are at least five different viewpoints on the subject which are: 1. Insurance is permissible (mutbuh). 2. Insurance is prohibited (haram). 3...
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International Institute of Islamic Thought
1988
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oai:doaj.org-article:367e366695c547bb872bdd0bfec9db872021-12-02T17:47:11ZSome Issues In Risk Management and Insurance In a Non-Muslim State10.35632/ajis.v5i2.27172690-37332690-3741https://doaj.org/article/367e366695c547bb872bdd0bfec9db871988-12-01T00:00:00Zhttps://www.ajis.org/index.php/ajiss/article/view/2717https://doaj.org/toc/2690-3733https://doaj.org/toc/2690-3741 Introduction This paper is not intended to be a discourse on whether or not insurance is permitted under Islam. The subject is controversial and, hence, there are at least five different viewpoints on the subject which are: 1. Insurance is permissible (mutbuh). 2. Insurance is prohibited (haram). 3. Insurance is not permitted in an Islamic state (dar-ul-Islam) . 4 . Insurance may be permissible between Muslim policy holders and non-Muslim insurers in a non-Muslim state where Muslims have religious freedom and security (dar-ul-amn), and in an enemy state (dar-ul-harb), if required to do so. 5 . Insurance provides important social benefits which are otherwise not available at all. However, some features and/or practices of modem insurance companies are undesirable and, hence, they must be changed before insurance can be permitted. The controversy on insurance is quite understandable. There was no such institution in existence at the time of the Prophet (on him be peace) or the ... M. Raquibuz ZamanInternational Institute of Islamic ThoughtarticleIslamBP1-253ENAmerican Journal of Islam and Society, Vol 5, Iss 2 (1988) |
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DOAJ |
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DOAJ |
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EN |
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Islam BP1-253 |
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Islam BP1-253 M. Raquibuz Zaman Some Issues In Risk Management and Insurance In a Non-Muslim State |
| description |
Introduction
This paper is not intended to be a discourse on whether or not insurance
is permitted under Islam. The subject is controversial and, hence, there are
at least five different viewpoints on the subject which are:
1. Insurance is permissible (mutbuh).
2. Insurance is prohibited (haram).
3. Insurance is not permitted in an Islamic state (dar-ul-Islam) .
4 . Insurance may be permissible between Muslim policy holders
and non-Muslim insurers in a non-Muslim state where
Muslims have religious freedom and security (dar-ul-amn),
and in an enemy state (dar-ul-harb), if required to do so.
5 . Insurance provides important social benefits which are
otherwise not available at all. However, some features and/or
practices of modem insurance companies are undesirable and,
hence, they must be changed before insurance can be permitted.
The controversy on insurance is quite understandable. There was no such
institution in existence at the time of the Prophet (on him be peace) or the ...
|
| format |
article |
| author |
M. Raquibuz Zaman |
| author_facet |
M. Raquibuz Zaman |
| author_sort |
M. Raquibuz Zaman |
| title |
Some Issues In Risk Management and Insurance In a Non-Muslim State |
| title_short |
Some Issues In Risk Management and Insurance In a Non-Muslim State |
| title_full |
Some Issues In Risk Management and Insurance In a Non-Muslim State |
| title_fullStr |
Some Issues In Risk Management and Insurance In a Non-Muslim State |
| title_full_unstemmed |
Some Issues In Risk Management and Insurance In a Non-Muslim State |
| title_sort |
some issues in risk management and insurance in a non-muslim state |
| publisher |
International Institute of Islamic Thought |
| publishDate |
1988 |
| url |
https://doaj.org/article/367e366695c547bb872bdd0bfec9db87 |
| work_keys_str_mv |
AT mraquibuzzaman someissuesinriskmanagementandinsuranceinanonmuslimstate |
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1718379457595572224 |