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Bookmark Introduction All praises are due to Allah. We praise Him, seek His Help, and ask for His forgiveness. We seek refuge in Allah from the evil in our souls and from our sinful deeds. Whoever Allah guides, no one can mislead.
Whoever Allah leads astray, no one can guide. I bear witness that there is no one worthy of worship except Allah. I also bear witness that Muhammad is His servant and messenger. Without a doubt, one issue that is often on the minds of Muslims in the West is that of insurance.
Indeed, one could argue that it is easy for a Muslim living in a non-Islamic society, like that of the United States where the Islamic community is not very strong and the social welfare system is virtually absent, to feel that he is driven by necessity to accept the concept of commercial insurance.
However, such a feeling is no excuse for not seeking the Shareeah ruling concerning insurance and abiding by what the Shareeah decrees.
The space limitations of this paper are quite restrictive. Thus, many important issues will have to be dealt with briefly or not at all. However, the core points regarding insurance are discussed. Beyond that, this paper attempts to deal with the question of insurance within the specific social environment of the United States.
The author hopes to shed some light on issues that he has not found discussed in detail in any of the relevant literature concerning insurance.
Insurance is a relatively modern phenomenon. For this reason, it is not directly dealt with in the texts of the Quran or Sunnah. In fact, many authors note that ibn Abideen, the famous Hanafi scholar of greater Syria who died in A. Since his time, the question of insurance has been taken up by a number of scholars.
Since there are no direct texts concerning it, insurance is a matter of ijtihaad juristic reasoning. Hence, it is expected that there may be some differences of opinion on this issue. However, that does not mean that a clear conclusion and ruling cannot be made, concerning which the Muslim will feel truly at rest with what he has found.
Indeed, it has been the lack of clarity on this point that has led to much confusion concerning the legality of insurance. In fact, Abu al-Basl noted that the entire difference of opinion concerning insurance revolves around the question concerning the nature of the insurance contract and industry.
The difference in description and make-up leads, obviously, to the difference in the ruling.
These include the following basic and essential nominate contracts: Note that these contracts may be also be divided into mutually onerous contracts, contracts of charity or gratuitous benefits, contracts of investment and so on.
The insurance contract should be considered what type of contract? This question is of extreme importance because different types of contracts have different rulings for them. For example, if a Muslim wanted to exchange money with the intention of a business transaction or profit, that exchange must be done on the spot, with the exchange of monies taking place immediately.
This immediate exchange is a condition for this type of transaction money exchange, whether the money be of the same or different type.
However, if a Muslim wants to give another Muslim some money as a loan, with the intention of helping him out, the condition of a spot exchanged is now dropped as the debtor is allowed to pay the money back later.
Hence, the rules it is subjected to differs from the rules for money exchange, sales and so forth. Therefore, it is of extreme importance to determine the nature of the insurance contract in order to determine its ruling.
For example, can it be considered simply a modern and new type of transaction subject to its own rules? Among those scholars who argue for the legality of commercial insurance in Islam, there are some who argue that commercial insurance is a new type of contract, being a blend between a charitable contract and a business contract and some who argue that it is purely a charitable type of contract.
This is a common conceptualization among Muslim writers. Furthermore, this view may greatly affect the contract category in which one will place the insurance contract.The Libraries welcomes learners and scholars from all cultures and backgrounds.
We are committed to providing a safe, open environment, and the broadest possible access to quality information. History Riba an-jahiliya. John Esposito describes riba as a pre-Islamic practice in Arabia "that doubled a debt if the borrower defaulted and redoubled it if the borrower defaulted again".
It was held responsible for enslaving some destitute Arab borrowers. Abdullah Saeed quotes the son of Zayd b.
Types of Riba Types of riba Description Sub-type of riba Description Riba Duyun: Unjustified increment in money lent whether in kind or . The use of entheogens such as ayahuasca is exemplary of the long and ongoing tradition in many cultures to employ psychoactives as tools that stimulate foundational types of understanding.
That such substances are capable of stimulating profoundly transcendent experiences is evident from both the academic literature and anecdotal reports. This . The use of entheogens such as ayahuasca is exemplary of the long and ongoing tradition in many cultures to employ psychoactives as tools that stimulate foundational types of understanding.
That such substances are capable of stimulating profoundly transcendent experiences is evident from both the academic literature and anecdotal reports. This article attempts to present these concepts in such.
What Is Wrong With Islamic Economics?: Analysing the Present State and Future Agenda (Studies in Islamic Finance, Accounting and Governance series).