Differences in Perspectives between Islamic and Conventional Insurance: An Argumentative Analysis based on Risk-sharing and Risk-transfer Concept

Yıl 2024, Cilt: 14 Sayı: 1, 47 – 62, 30.06.2024

Yusuf Dinç Rashed Jahangır

https://doi.org/10.31679/adamakademi.1015089

Öz

Bu makale, İslami finansın segmentlerinden İslami sigorta, yani Tekafül, ve konvansiyonel sigortayı karşılaştıran bir analiz sunar. Çalışmanın amacı, her iki sigortacılık uygulamasını ekonomi, risk, ahlak ve geri ödeme politikaları perspektiflerinden değerlendirmektir. Çalışma esas göstergeler üzerinden Tekafülün sınırlılıklarının uygulamanın değil uygulamacıların kısıtları olduğunu tartışır. Hem İslami hem de konvansiyonel sigortanın birbirinden yararlanabileceği öne sürülmektedir. Tekafülün konvansiyonel sigortaya göre önemli ve daha yüksek bir büyüme potansiyeli vardır ve küresel sigorta piyasasında önemli bir oyuncu haline gelebilir. Araştırma, değerlendirmeleri bakımından İslami finans ve sigortacılık alanındaki mevcut literatüre önemli bir katkı sağlar.

Anahtar Kelimeler

İslami Sigorta, Tekafül, Konvansiyonel Sigorta, İslami finans, İslami Bankacılık

Kaynakça

• AAOIFI (2017). Shari'ah Standards. No. 26, Page 678. Available at: https://tinyurl.com/y5ble9lk
• Ali, M. I. (2017). A Brief Introduction to Takaful: Theory And Origins. Retrieved from: https://www.linkedin.com/pulse/brief-introduction-takaful-theory-origins-mohammed-imad-ali/
• Aziz, N. A. A., Ghani, A. H. A., & Shaari, H. (2016). Issues and problems in ethical practices amongst takaful agents. International Review of Management and Marketing, 6(4S), 21-26.
• Al-Salih, A. (2014). Takaful and Conventional General Insurance: Analysing Muslim Consumers' Perception and Choices in the UK and Saudi Arabia (Doctoral dissertation, Royal Holloway, University of London).
• Esposito, J. L. (1999). The Islamic threat: Myth or reality?. Oxford University Press.
• Hackett, C. & Mcclendon, D. (2017). Christians remain world's largest religious group, but they are declining in Europe. Pew Research Center.
• Hassan, R. & Salman, S. A. (2017). Takaful vs. Conventional insurance from the risk and solidarity perspective. Conference Proceedings, 30th International Business Information Management Association Conference.
• IMARC Group (2020). Takaful Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026. Retrieved from: https://www.imarcgroup.com/takaful-market
• Islamic Financial Services Board. (2019). Islamic financial services industry stability report.
• International Shariah Research Academy (ISRA). (2012). Islamic Financial System: Principles and Operations. Kuala Lumpur: ISRA. Jim' ale, A. M. (2015). Takaful Product vs. Insurance product Case study: Motor Policy. INCEIF. pp. 5
• Johnson, W. G. (1983). Work Disincentives of Benefit Payments. Safety and the Work Force: Incentives and Disincentives in Workers Compensation, edited by John D. Worrall. Ithaca, NY: ILR Press.
• Jorion, P., & Khoury, S. J. (1995). Financial risk management: Domestic and international dimensions. Blackwell.
• Kamil, N. M., & Nor, N. B. M. (2014). Factors influencing the choice of Takaful over conventional insurance: the case of Malaysia. Journal of Islamic Finance, 176(3192), 1-14.
• Kamis (2010). The History of Conventional Insurance Development. Retrieved from: http://kumpulan-makalahekonomi.blogspot.com/2010/09/history-of-conventional-insurance.html
• Khan, M. & PricewaterhouseCoopers (n.d.). Islamic Finance in practice. Takaful vs. Conventional Insurance. pp. 139-142
• Nahar, H. S. (2015). Insurance vs Takaful: identical sides of a coin?. Journal of Financial Reporting and Accounting, 13(2), 247-266.
• NuHtay, S. N., Hamat, M., Ismail, W. Z. W., & Salman, S. A. (2015). Takaful (Islamic insurance): historical, Shari'ah and operational perspectives. International Business Management, 9(1), 65-69.
• Patel, S. (2004). Takaful and poverty alleviation. ICMIF. United Kingdom.
• Rafay, A. (Ed.). (2019). Handbook of Research on Theory and Practice of Global Islamic Finance. IGI Global.
• Sarpin. S. N. (2014). Comparisons Between Takaful And Conventional Insurance. Retrieved from: https://prezi.com/ntulstc0tb4x/comparisons-between-takaful-and-conventional-insurance/
• Shahid, I. (2018). Macroeconomic essence of Takaful: Exploring the significance and impact of Takaful in macroeconomic context. Journal of Emerging Economies & Islamic Research, 6(1), 26-31.
• Swiss Re Institute (2021). World insurance: the recovery gains pace (sigma 3/2021). Retrieved from: https://www.swissre.com/institute/research/sigma-research/sigma-2021-03.html
• Qadir, Z. A. (2016). Similarities of Takaful and conventional insurance. Retrieved from: https://www.dawn.com/news/1249765

Differences in Perspectives between Islamic and Conventional Insurance: An Argumentative Analysis based on Risk-sharing and Risk-transfer Concept

Yıl 2024, Cilt: 14 Sayı: 1, 47 – 62, 30.06.2024

Yusuf Dinç Rashed Jahangır

https://doi.org/10.31679/adamakademi.1015089

Öz

This article presents an argumentative analysis comparing conventional insurance and Takaful, a segment of Islamic insurance system. The objective of the study is to evaluate both systems from justice, economic, risk, moral, and refund policy perspectives. It focuses primarily on Takaful, a risk-sharing insurance that is considered more viable than conventional insurance in terms of demonstrating compliance with the five sample indicators. Despite some limitations, the study argues in favor of Takaful because its limitations are mostly individual, not institutional in nature. There is a significant and higher growth of Takaful than conventional insurance, and it has the potential to become a significant player in the global insurance market. The research adds significant value to the existing literature on Islamic finance and insurance through its evaluation of Takaful and conventional insurance.

Anahtar Kelimeler

Islamic Insurance, Takaful, Conventional Insurance, Islamic finance, Islamic Banking

Kaynakça

• AAOIFI (2017). Shari'ah Standards. No. 26, Page 678. Available at: https://tinyurl.com/y5ble9lk
• Ali, M. I. (2017). A Brief Introduction to Takaful: Theory And Origins. Retrieved from: https://www.linkedin.com/pulse/brief-introduction-takaful-theory-origins-mohammed-imad-ali/
• Aziz, N. A. A., Ghani, A. H. A., & Shaari, H. (2016). Issues and problems in ethical practices amongst takaful agents. International Review of Management and Marketing, 6(4S), 21-26.
• Al-Salih, A. (2014). Takaful and Conventional General Insurance: Analysing Muslim Consumers' Perception and Choices in the UK and Saudi Arabia (Doctoral dissertation, Royal Holloway, University of London).
• Esposito, J. L. (1999). The Islamic threat: Myth or reality?. Oxford University Press.
• Hackett, C. & Mcclendon, D. (2017). Christians remain world's largest religious group, but they are declining in Europe. Pew Research Center.
• Hassan, R. & Salman, S. A. (2017). Takaful vs. Conventional insurance from the risk and solidarity perspective. Conference Proceedings, 30th International Business Information Management Association Conference.
• IMARC Group (2020). Takaful Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026. Retrieved from: https://www.imarcgroup.com/takaful-market
• Islamic Financial Services Board. (2019). Islamic financial services industry stability report.
• International Shariah Research Academy (ISRA). (2012). Islamic Financial System: Principles and Operations. Kuala Lumpur: ISRA. Jim' ale, A. M. (2015). Takaful Product vs. Insurance product Case study: Motor Policy. INCEIF. pp. 5
• Johnson, W. G. (1983). Work Disincentives of Benefit Payments. Safety and the Work Force: Incentives and Disincentives in Workers Compensation, edited by John D. Worrall. Ithaca, NY: ILR Press.
• Jorion, P., & Khoury, S. J. (1995). Financial risk management: Domestic and international dimensions. Blackwell.
• Kamil, N. M., & Nor, N. B. M. (2014). Factors influencing the choice of Takaful over conventional insurance: the case of Malaysia. Journal of Islamic Finance, 176(3192), 1-14.
• Kamis (2010). The History of Conventional Insurance Development. Retrieved from: http://kumpulan-makalahekonomi.blogspot.com/2010/09/history-of-conventional-insurance.html
• Khan, M. & PricewaterhouseCoopers (n.d.). Islamic Finance in practice. Takaful vs. Conventional Insurance. pp. 139-142
• Nahar, H. S. (2015). Insurance vs Takaful: identical sides of a coin?. Journal of Financial Reporting and Accounting, 13(2), 247-266.
• NuHtay, S. N., Hamat, M., Ismail, W. Z. W., & Salman, S. A. (2015). Takaful (Islamic insurance): historical, Shari'ah and operational perspectives. International Business Management, 9(1), 65-69.
• Patel, S. (2004). Takaful and poverty alleviation. ICMIF. United Kingdom.
• Rafay, A. (Ed.). (2019). Handbook of Research on Theory and Practice of Global Islamic Finance. IGI Global.
• Sarpin. S. N. (2014). Comparisons Between Takaful And Conventional Insurance. Retrieved from: https://prezi.com/ntulstc0tb4x/comparisons-between-takaful-and-conventional-insurance/
• Shahid, I. (2018). Macroeconomic essence of Takaful: Exploring the significance and impact of Takaful in macroeconomic context. Journal of Emerging Economies & Islamic Research, 6(1), 26-31.
• Swiss Re Institute (2021). World insurance: the recovery gains pace (sigma 3/2021). Retrieved from: https://www.swissre.com/institute/research/sigma-research/sigma-2021-03.html
• Qadir, Z. A. (2016). Similarities of Takaful and conventional insurance. Retrieved from: https://www.dawn.com/news/1249765

Toplam 23 adet kaynakça vardır.

Ayrıntılar

Kaynak Göster

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