Risk, Risk Management and Insurance: Conventional and Islamic Dimensions

Syed Ahmed Salman
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Syed Ahmed Salman: Lincoln University College

Chapter Chapter 2 in Implementing Takaful in India, 2021, pp 15-26 from Springer

Abstract: Abstract Risk is one of the determinants that can make our lives succeed or fail. Risk has been playing a significant role in our daily life. This chapter discusses the origin of risk in the sources of Shari'ah and its historical development in Islam by referring to the practices of Prophets. Furthermore, the current method of engaging with insurance involves the prohibited elements. These elements can bring unfairness and injustice towards the involved parties in particular and society at large.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-6281-2_2

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DOI: 10.1007/978-981-16-6281-2_2

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