Risk management systems in Takaful

Risk management systems in Takaful

Mudharabah is a cooperation agreement in this case the owner of the property (the Lord of the mall) provides mudharib (people working or employers) a form of property that he manages in business and profits are shared between the two of them follow the requirements that they make.

Another definition proposed by Afzalur Rahman that Mudharabah is a partnership contract (partnership) which is based on the principle of profit sharing by way of someone giving their money to other people to do business and both parties share the profits or bear the burden of losses based on the content of collective agreements. The first party, suppliers or financiers, called Shahibul mall and a second party, user or manager of capital (employers) called mudharib.

Mudaraba system is not directly referred to the Al-Quran and Al-Hadith. Mother Taymiyah mentions that the legal basis of mudaraba been delivered by some of companions of the Prophet Muhammad, but the hadith is weak sandanya. However, in fact mudaraba into a trading tradition that has continued since the beginning of Islam among the Muslim merchants to conduct business cooperation. In fact, according to a history of the Prophet was doing business together. In fact, according to a history of Rasulullah SAW was doing mudharabah when a manager (manager) for Khadijah ra treasures handed to him.

Risk management system in the Takaful

Participants approved kepesertannya in Takaful, will automatically become a great family Takaful participants. Each such participant to the other participants berakad berta’awun to each other, helping among participants in the face of possible risks and experienced by participants in the future. Ta’awun among the participants carried out by paying a donation, tabarru funds, according to the participant’s risk profile.

Tabarru set of funds are recorded in a special rekekning called tabarru fund account. The funds are sufficient to provide compensation to the participants of the unfortunate, the tabarru funds invested according to the investment instrument syar’i. If the pad end of the contract occurred underwriting surplus, the amount of funds tabarru besdar plus investment returns more than the number of claims and expenses charged on those funds, the surplus can be shared with ebrbagai options as follows.

First, entirely reserved back in tabarru fund account. Secondly, some returned to the participants and others are reserved in the accounts tabarru. Third, some returned to the participants, mostly paid to the Islamic insurance company, and the rest is reserved in rekeknig tabarru funds.

If the Islamic insurance companies feel the risks are managed melelbihi capacity, some of these risks will share with Islamic reinsurance company / Retakaful. Thus, a more diversified risk managed better. The consequences of a mini site is a part of the funds managed tabarru Takaful will also be paid to Islamic reinsurance company / reakaful.