Best scientific research 2022

BEST SCIENTIFIC
RESEARCH - 2022 
80 
the kafala (guarantee) contract and the insurance contract. However, takaful is based on 
the principle of co-operative and the principle of division between the funds and operations 
of the shareholders, whereby the ownership of the takaful (insurance) fund and operations 
is transferred to the insured. Muslim jurists conclude that insurance in Islam should be based 
on the principles of reciprocity and cooperation, including the elements of joint liability, joint 
indemnity, joint benefit, and solidarity. In takaful, policyholders are co-investors with an 
insurance seller (takaful operator) who acts as a mudarib - a manager or agent of the 
business - for the policyholders. Policyholders share in the profits and losses of the 
investment money. A positive return on the policy is not legally guaranteed, as any fixed 
benefit guarantee is akin to charging interest and violates the prohibition against usury. For 
some time, traditional insurance was considered to be non-Sharia-compliant, prohibiting 
excessive uncertainty in transactions and investing in interest-bearing assets; both are 
typical factors of traditional insurance business. However, takaful is in accordance with the 
Shari'ah (principles of compensation and shared responsibility between society) and 
approved by Muslim scholars. There are now general, health and family (life) takaful plans 
for Muslim communities. Islamic insurance is regulated on the basis of specific sharia 
norms:Garrar 
– an insurance contract has a guarar because if no claim is made, one party 
(the insurance company) can receive all the profits (the insurance company) received, while 
the other party (the participant) can receive none of the benefits. The leading Muslim scholar 
IbnTaymiyyahexplained that "Gharar found in the contract existed because one party 
benefited and the other party did not."
Garratory prohibition requires that all investment gains and losses be ultimately 
distributed to avoid excessive uncertainty regarding the return on the insurer's 
investments.Maysir - Islamic scholars emphasized the interdependence of maysir 
(gambling) and gharar. Where there are elements of Gharar, there are usually elements of 
Maysir. When Maysir is available in the insurance contract; the policy holder pays a small 
premium in the hope of getting a larger sum; in case the insurance event does not occur, 
the insurer loses the money paid for the insurance premium; If the claims are higher than 
the amount contributed by the policyholders, the company will have a deficit.Riba - traditional 
waqf insurance policies that promise a contractually guaranteed payment, thus violating the 

---