Insurance Contract Its Types and Sharia Ruling

Abstract

This research addresses the topic of "Insurance in Islamic Law" with the aim of understanding the nature and types of insurance from an Islamic perspective. The study presents both commercial and cooperative insurance in terms of definitions and Islamic regulations, highlighting the differences between them in the context of Islamic rulings. The research includes a study of the origin and development of insurance, as well as an analysis of the Islamic ruling on commercial insurance, which is considered prohibited due to the prohibited practices involved, and cooperative insurance, which is deemed permissible according to Islamic law. The researcher follows a descriptive-analytical methodology and aims to clarify the Islamic ruling on each type of insurance, identifying permissible and prohibited matters in this area. The research also covers important previous studies on Islamic insurance, raising several key questions, including when commercial insurance emerged, the ruling on commercial and cooperative insurance, and how cooperative insurance can be implemented as a permissible alternative.