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This timely Encyclopedia is a much-needed thorough reference on
Islamic insurance policy and the ways in which this can be modelled
to cohere with Shari'ah law. The authors explore the ways in which
Islamic insurance can be halal, contradicting the widely held
belief that insurance policies are not appropriate or moral,
utilizing evidence from both the Qu'ran and top Islamic scholars to
do so. The book explores Takaful, an insurance paradigm that is in
accordance with Islamic principles and suits the needs of modern
Islamic economies and communities. It examines the practices,
principles, framework and importance of the notion of Takaful,
using evidence from the Qu'ran and Islamic teachings to support
this. Chapters examine how Takaful is different to conventional
insurance models that are not permissible under Shari'ah law,
contradicting misconceptions about the possibility of an insurance
policy that is achievable within Islamic communities. The book
further explores the room for cooperation between Takaful services
and Islamic banking, offering insight into how this can be improved
in the future. A valuable asset for Islamic insurance and Islamic
economics scholars, this timely book offers a thorough analysis of
Takaful, Retakaful and Islamic insurance in our modern world. It
will also be a useful read for those practising Takaful to ensure
that their advice coheres with Shari'ah law.
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