Islamic insurance contract

Islamic insurance contract

Position or contract in Islamic economy Islamic economics is very important. Legitimate and cancellation of the contract in Islam will have an impact on the legal crucial with regard to the rights of ownership of an object and the freedom to do with the object. Contract terms stimologis means ties, connections or agreement.

As for the term, with the consent of the engagement contract is justified qabul law and get the pleasure of both parties to the agreement. One of the fundamental differences between Islamic and conventional insurance is the contract-contract agreement. Akad-contract in the contract-based Islamic insurance contract in accordance with syari’i. Akad in the transaction is the main thing so that in the absence of agreement or contract is not clear, the transaction may be considered questionable or harmful.

The spirit of Islam, among others based on the principle of justice and kindness encourages people to be careful in matters of contract or pay full attention to it. This is necessary because the contract contains certain consequences. To that end, the contract must be made towards the intention to draw closer to God or in spiritual terms about economic transactions is doing business with Allah. Contract can be distinguished based on objective and validity. Based on the objectives, the two parties may agree in terms tijari, which expects profits after the contract terms and the pillars are met. Tijari contract does contain an element of profit-oriented, whether it is done by blending the benefits or the exchange of benefits.

Two parties can also agree solely for the purpose of helping salng hope of reward and pleasure for the sake of Allah. Akad tabarru it can be called contains non = profit oriented or more in benefit oriented. the expected benefit is the pleasure and reward of Allah. This type of transaction of this contract include qardh, Rahn, hawalah, wakalah, wad’ah, grants, kafalah and endowments. Furthermore, a contract is considered valid if it meets the abash or syart and get along well defined, therefore there are three validity of the contract as described