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Encyclopedia of Islamic Insurance, Takaful and Retakaful

Mohd M. Billah, Ezzedine GhlamAllah and Christos Alexakis

The model of Islamic insurance policy is based on the principles of mutual cooperation, brotherhood and solidarity. This timely volume contradicts the widely-held belief that insurance policies oppose the teachings of Islam, exploring ways in which it coheres with Shari’ah law. The book explores Takaful, an insurance paradigm that is in accordance with Islamic principles and suits the needs of modern Islamic economies and communities.
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Chapter 8: Databank of Takaful and Retakaful

Mohd M. Billah, Ezzedine GhlamAllah and Christos Alexakis

Extract

Cooperation



“and co-operate you one another in righteousness and piety.”1

Seeking Prosperity



“Our Lord, give us good in this world and good in the hereafter.”2

Misappropriation of Wealth



“do not eat up your property among yourselves in vanities, but let there be amongst you traffic and business by mutual good will.”3



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