{"id":32229,"date":"1985-12-28T04:39:11","date_gmt":"1985-12-28T01:39:11","guid":{"rendered":"https:\/\/iifa-aifi.org\/32229.html"},"modified":"2021-11-21T14:39:23","modified_gmt":"2021-11-21T11:39:23","slug":"%d9%82%d8%b1%d8%a7%d8%b1-%d8%a8%d8%b4%d8%a3%d9%86-%d8%a7%d9%84%d8%aa%d8%a3%d9%85%d9%8a%d9%86-%d9%88%d8%a5%d8%b9%d8%a7%d8%af%d8%a9-%d8%a7%d9%84%d8%aa%d8%a3%d9%85%d9%8a%d9%86","status":"publish","type":"post","link":"https:\/\/iifa-aifi.org\/en\/32229.html","title":{"rendered":"Insurance and Reinsurance"},"content":{"rendered":"

In the Name of All\u0101h,<\/p>\n

the Entirely Merciful, the Especially Merciful<\/p>\n

Praise is due to All\u0101h, Lord of the worlds, may the blessings and peace be upon our master Mu\u1e25ammad, the last of prophets, on his family, and all his companions.<\/p>\n

Resolution No. 9 (9\/2) Insurance and Reinsurance<\/strong><\/p>\n

The Council of the International Islamic Fiqh Academy of the Organization of the Islamic Conference, holding its 2nd session in Jeddah, Saudi Arabia on 10\u201316 Rab\u012b\u02bf al-Awwal 1406H (22\u201328 December 1985),<\/p>\n

Having reviewed the presentations of the participating scholars concerning<\/p>\n

Insurance and Reinsurance<\/em>,<\/p>\n

Having discussed the studies presented and examined <\/em>all the forms, types, and principles on which insurance and reinsurance are based, and their objec- tives and aims,<\/p>\n

Having considered the resolutions of other Fiqh Academies and Islamic Councils in this regard,<\/p>\n

\n

Resolves<\/p>\n

First: The commercial insurance contract with a fixed periodical premium, which commercial insurance companies commonly use, is a contract that con- tains major elements of deceit that void the contract and is therefore prohibited by Shariah.<\/p>\n

Second: The alternative contract, which is compliant to Shariah in this mat- ter, is the contract of cooperative insurance, founded on the basis of charity and cooperation. Similarly, it is a case of reinsurance based on the principle of cooperative insurance.<\/p>\n

Third: Calling on Muslim countries to work towards establishing cooper- ative insurance institutions and cooperative entities for reinsurance to liberate Islamic economy from exploitation and end violating the system that All\u0101h has chosen for this Ummah.<\/p>\n

Indeed, All\u0101h is All-Knowing.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

In the Name of All\u0101h, the Entirely Merciful, the Especially Merciful Praise is due to All\u0101h, Lord of the worlds, […]<\/p>\n","protected":false},"author":2,"featured_media":31496,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[191,276],"tags":[277],"acf":[],"_links":{"self":[{"href":"https:\/\/iifa-aifi.org\/en\/wp-json\/wp\/v2\/posts\/32229"}],"collection":[{"href":"https:\/\/iifa-aifi.org\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iifa-aifi.org\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iifa-aifi.org\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/iifa-aifi.org\/en\/wp-json\/wp\/v2\/comments?post=32229"}],"version-history":[{"count":0,"href":"https:\/\/iifa-aifi.org\/en\/wp-json\/wp\/v2\/posts\/32229\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/iifa-aifi.org\/en\/wp-json\/wp\/v2\/media\/31496"}],"wp:attachment":[{"href":"https:\/\/iifa-aifi.org\/en\/wp-json\/wp\/v2\/media?parent=32229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iifa-aifi.org\/en\/wp-json\/wp\/v2\/categories?post=32229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iifa-aifi.org\/en\/wp-json\/wp\/v2\/tags?post=32229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}