Takaful and conventional insurance: dichotomy

.

Chapter 3 in Encyclopedia of Islamic Insurance, Takaful and Retakaful, 2019, pp 136-178 from Edward Elgar Publishing

Abstract: Both insurance under common law and Takaful under Islamic Law share the common goal to provide reasonable financial security against unpredicted risks affecting one’s life or property. This common goal can be achieved only by a mutual contractual relationship upon which both the insurer or the Takaful operator and the insured or the Takaful contributor are bound to perform their respective obligations. Although both conventional insurance and Takaful strive for a common aim based on contractual principles, there are some aspects in which both systems stand on their own platforms. We seek to analyze the principles of contracts affecting both conventional insurance and Takaful using a comparative approach.

Keywords: Asian Studies; Economics and Finance; Law - Academic; Politics and Public Policy (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.elgaronline.com/view/9781788115827/chapter03.xhtml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:18149_3

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().