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Insurance
Abu Hurayra (Allah be well pleased with him) said, "The Messenger of Allah ( Allah bless him and give him peace) prohibited sales of 'whatever a pebble thrown by the seller hits' and sales in which there is gharar (contractual uncertainty leading to dispute)". (Muslim) Insurance is a contract between two parties in which an insured party pays an insuranc...
 
Islamic Alternative To Conventional Insurance
Conventional insurance is not permissible. Islamic cooperative insura...
 
Permissibility Of Health Insurance
Whether an insurance arrangement is mutual or non-profit does not make it Islamic. What makes Takaful Shariah-compliant is the over...
 
Market Or Replacement Value
The insured is entitled to receiving benefits equal to the actual amount of damage e...
 
Insuring Cash, Cheques And Trade Bills
It is permissible to insure such items on the condition that the amount of Takaful coverage is commensurate with the amounts of the trade bills and cheques etc, actua...
 
Insuring A Client's Payments
Insurance for payments owed by a client is a form of suretyship or kafalah for debt. In this case the surety is the insurance compa...
 
Transferring A Right To Benefits
It is lawful to transfer a right to benefits from a Takaful insurance plan to the purchase pledger at the conclusion of a Murabaha sales contract, where he also serves as the bank's agent in settling ...
 
Entitlement To Policy Benefits
It is lawful for the person to receive benefits for the value of the destroyed car since ownership was transferred to him without his putting up any collateral. However, in the event that the person who purchased the car previously granted the bank the rig...
 
Indemnity Insurance For Banks
It is permissible for the bank to seek Takaful against the types of losses mentioned s...
 
Does Client Have The Right To Determine Coverage
The client is not in a position to determine the type of coverage ...
 
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