Document Type : Original Research Paper
Authors
Department of Law, Faculty of Theology and Islamic Studies, Hakim Sabzevari University, Sabzevar, Razavi Khorasan, Iran
Abstract
The prohibition of riba in Islamic economy has caused Muslim economists to design and introduce special financial institutions to avoid usury to replace common financial institutions. Among these efforts in the past four decades, it has been in the field of insurance, and efforts have been made to design an alternative insurance model based on Islamic regulations; Because one of the most important objections of Muslim economists to the insurance institution is its usury. Therefore, Muslim experts introduced an alternative institution that is rooted in Sharia rulings and is based on the principle of cooperation in order to solve the aforementioned problems. According to these experts, the institution of "Takaful" as an Islamic insurance can replace the common insurance. Takaful is designed for the purpose of mutual cooperation, cooperation and fair distribution of profits and losses among all parties around the contract, and so far several contract models have been presented for this Islamic financial institution. The two takaful models based on Mudarabah and Wakalat are among the common models of this financial institution, which have also undergone reforms and adjustments, but the takaful model based on the deposit contract has been introduced as one of the new models, which is not so comprehensive compared to the previous two models. is not. This article tries to examine takaful based on the contract of deposit and its adaptation to the rules of Shia jurisprudence.
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