�MISCONCEPTIONS TO TAKAFUL (Islamic Insurance) &�
REFUTING THEM IN THE LIGHT OF THE SHARI'AH *

�� Mohd. Ma'sum Billah (Ph.D.)**

E-mail: [email protected]

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Introduction�

Under Islamic law on the other hand, the �Ulama are divided in groups over the issue of the validity of insurance. There are mainly three groups. One of them accepts the practices of insurance subject to conformity with the Shari�ah. The second group accepts general insurance but rejects the life insurance and the third group opposes insurance entirely, claiming that the whole idea of insurance policy is contrary to the fundamental teachings of Islam.^[1] This research aims at focusing on the disputes which have arisen among the Islamic scholars on the validity of insurance, the grounds of their arguments and possible justifications for the legality of insurance practices in the light of the Shari�ah principles.

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Differences among Muslim Scholars for & Against the Validity of Insurance

Differences in Groups
Misconceptions
Refuting the Misconceptions

Further Justifications for the Validity of Takaful (Islamic Insurance)

Conclusion

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