Takaful,Islamic Insurance,Islamic Banking,Riba,Interest Free,Shariah,Koran,Quran

Origin and Development of Takaful

Even though it is not quite clear when insurance practices exactly began in Islamic History, it may be inferred, based on today’s nature of insurance contracts that insurance practices were known before the time of the Prophet and have ever since gradually developed until the
beginning of the 19th century, when a Hanafi lawyer Ibn Abidin [...]

Takaful~An Alternative Model

For the purpose of providing sosial and economic security for the Muslim Ummah, it is necessary to come up with an alternative model to that of conventional insurance,that is justified by the Quran and Sunnah.
An Islamic model of insurance may be operated on inter alia, the principles of al-Mudaharabah financing and it should be in [...]

Basis of Insurance in Islam

In Islamic Law, the idea of insurance originated from the doctrine of al-qilah practised by the ancient Arab tribes before 570 CE. It is then obtained recognition in Islamic Law based upon the approval of the Holy Prophet Muhammad in one of his judgements against a woman from the trribe of Huzail.
Unfortunately, some Muslim scholars [...]