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The Saudi Tʿawuni Insurance Model: Concerns about Compatibility with Islamic law in Accomodating “Risk”

The Saudi taʿawuni insurance model, despite claiming to be compatible with Islamic transactional rules, in fact violates the prohibition of gharar (risk) through its commercial structure. The study investigates the ways in which gharar (risk) is accommodated in modern insurance models. It argues that the most appropriate solution to comply with the doctrine of gharar, is to de-commercialize the taʿawuni model by adopting the mutual insurance model, which is capable of satisfying the requirements of sharia relating to the prohibition of trading in gharar

Identiferoai:union.ndltd.org:LACETR/oai:collectionscanada.gc.ca:OTU.1807/35106
Date18 March 2013
CreatorsAlghamdi, Sarah
ContributorsFadel, Mohammad
Source SetsLibrary and Archives Canada ETDs Repository / Centre d'archives des thèses électroniques de Bibliothèque et Archives Canada
Languageen_ca
Detected LanguageEnglish
TypeThesis

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