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chapter Eight B - Coggle Diagram
chapter Eight B
Qualities of Islamic Takaful Insurance
a collective Insurance contract
does not only protect against the consequences of the risks in a Cooperative way
Investing the funds not used to pay claims in legitimate productive projects in Mudarabah
Investing the policyholders' money in legitimate ways.
The fixed fees which The Insurance Company receives from the Insured's funds
Takaful Insurance has a wide range of Insured's and different types of Insurance in practic
The premiums paid by the Insured's remain their own property after deducting all financial fees
Technical and cognitive preference
Takaful Insurance is part of what is called donation contracts
Takaful Insurance is suitable as a substitute for Conventional Insurance in all its types, but different in its substance.
Functions of Islamic Takaful Insurance
It Achieves Security for The Insured
It earns legitimate gain
The profits of the shareholders' funds which are invested in legitimate ways
Fixed fees as an agenc
Its share from the profits of Mudarabah
Islamic Takaful Companies are considered one aspect of the appropriateness and usefulness of the esteemed Islamic Shari'ah for All Ages
It Contributes to the building and prosperity of the economy and to the growth of economic enterprises
developing and investing the shareholders' and the Insured's funds in legitimate ways
compensation losses by maintaining the things which are insured
creating many job opportunities, and thus limiting unemployment
finding means of respectful living in case of illness and disability
maintaining Insurance funds and savings in the country
Islamic Takaful Companies Complement the Islamic Economic Cycles
Types of Islamic Takaful Insurance
First: Insurance Against Damages
Property Insurance
Liability Insurance
Civil Liability Insurance
Vocational Liability Insurance
Second: Social Takaful Assurance
Third: Insurance of Transport Risks
The First Kind: Hull and Marine Insurance
The Second Kind: Land Transit,
The Third Kind: Air Cargo,
Fourth: Engineering Insurances
Fifth: Money Insurance
The First Kind : Export Insurance
The Second Kind : Deposit Insurance
The Third kind : Debt Insurance
Legitimacy of Islamic Takaful Insurance
First: Those who Allow Islamic Takaful Insurance
Second: Those who Prohibit Takaful Insurance and their Evidence
Takaful Insurance Includes Usury
Takaful Insurance is Based on Gambling
Takaful Insurance Includes Gharar
Takaful Insurance is based on compensations and not on Donation
Third: Our Point of View (Justification)
Their evidence is strong
The Evidence presented by those who prohibit Takaful Insurance can be used to prohibit Conventional Insurance and not Takafu
Group interpretation has legitimized this type of insurance