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World Islamic Insurance Directory 2008
Author: Takaful Re & Middle East Insurance Review
Year of publication: 2008
Price: Africa/Asia/Middle East USD 240; Europe/America USD 300
With the Takaful market growing rapidly, the number of operators grew from 106 in 2005 to 133 in 2006, according to the just-released World Islamic Insurance Directory (WIID) 2008.The largest increase occurred in the GCC, with 29 new operators joining the club.
The WIID includes 2006 figures by Takaful Re, which show that most operators originated from the GCC (59), followed by the Far East (22) and Africa (21).Of the Total estimated gross contributions of USD 5.7 billion in 2006, motor accounted for 50% and the second largest share went to property and miscellaneous accidents with 37%.In the MENA region, property and miscellaneous accidents accounted for 46% of gross contributions, motor took up 34%, marine & aviation 16%, and family takaful 4% in 2006. Family Takaful took only an estimated 5% of total gross contributions in 2006.This is expected to change as customer awareness and demand increases, along with the creation of more innovative and tailored products. Higher levels of customer support will also help to drive up family takaful's market share.
The second edition of the World Islamic Insurance Directory captures the corporate information, including financial and key contact details of over 130 Islamic insurance companies across 26 countries. It is published by Ins Communications in conjunction with Takaful Re and Middle East Insurance Review, following the success of the first edition which was launched in 2007.
For more information on how to purchase the World Islamic Insurance Directory, please visit www.meinsurancereview.com/wiid
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Directory of Islamic Insurance Companies
Author: Arab Insurance Group (Arig)
Year of publication: 2007
Price: Free
Based on its commitment of serving the insurance industry, Arab Insurance Group (Arig) in cooperation with its recently launched subsidiary, Takaful Re Ltd (TRL), take pleasure in presenting the first-of-its-kind ‘Directory of Islamic Insurance Companies’.
This Directory encapsulates details of most of the companies operating under the Takaful and Cooperative framework across 27 countries. 75 companies have been surveyed in this edition.
The Directory represents the most current information, which was primarily sourced from the respective companies through the completion of a comprehensive questionnaire. However, in some instances, the data was sourced from the latest annual reports and publications of regulatory authorities and insurance federations.
DOWNLOAD DIRECTORY.
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Islamic Insurance:Trends, Opportunities and the future for Takaful
Author: Sohail Jaffer (Editor)
Publisher: Euromoney Books
Year of publication: 2007
Price: GBP 145.00
The book draws together the views and experience of the world's leading experts and industry players to provide in-depth insights into the global opportunities and challenges facing the Islamic insurance industry.
Edited by the best-selling author Sohail Jaffer with contributions from 21 specialist contributors, this is the only book to explore every aspect of Islamic Insurance.
Topics covered include:- Takaful models and their development
- Re-Takaful
- Concerns in the provision of Takaful
- Business models
- Retailing Takaful
- Marketing financial services
- Distributing through joint ventures
- Innovations in the Northern and Southern African markets
- Integrating Takaful within conventional bancassurance
- Legal, regulatory and operational issues
- Rating of Takaful companies
- Illustrates how to help buyers avoid costly mistakes
There is a 10% discount on Islamic Insurance when you use the promotional code ISIN10 (this is also at the bottom of the enclosed brochure). If you visit the web site www.euromoneyplc.com register and then enter the promotional code in the shopping basket facility, you will see the discount. Euromoney are also offering a 25% discount when you purchase 3 or more titles in their books range.
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Islamic Finance in the Modern World: Economic and Legal Aspects
Author: Dr. A.J. Juravliov, Dr. R.I. Bekkin and others
Publisher: “Ummah” Publishing House, Moscow.
Year of publication: 2004
Price: USD 15.50
Contact: ummah@ummah.ru or aslam@ummah.ru- Editor’s preface
- A.J. Juravliov. Conceptual Framework of Islamic Economy. Pp. 5-37.
- M. Kemper. Islamic Ethics and the Spirit of Capitalism. Pp. 38-48.
- A.J. Juravliov. Basic Principles of Islamic Banking. Pp. 49-126.
- R.I. Bekkin. Legal Framework of Islamic Insurance. Pp. 127-213.
- A.D. Larionov, D.A. Al-Sharaireikh. Islamic Model of Accounting. Pp. 214-232.
- Ibn Hajar al-Askalani. Bulugh al-Maram. Pp. 233-266.
- R.I. Bekkin. Glossary. Pp. 267-282.
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Shari’ah Standard of Quantum of Damages in Insurance
(A Handbook for the Actuaries and Accountants)
Author: DR. MOHD. MA’SUM BILLAH
Publisher: Ilmiah Publishers, Kuala Lumpur, Malaysia.
Year of publication: 2003
Price: USD 8.00
Distributor: K-Professional Development Group (KPDG)
Contact: saidah@kpdg.com.my or mustakim@kpdg.com.my
In the 21st Century’s reality, Takaful (Islamic insurance scheme) is one of the promising and developing areas in the applied socio-economic environment. It is a Shari'ah justified financing scheme adapted in the economy as an alternative to the conventional one. Nevertheless, it is not impossible in practice that, the Takaful operations invoke certain aspects, which might have a resemblance to that of the modern practices. It does not mean that every mechanism of modern insurance is impossible to be justified by Shari’ah principles. The principles adapted in quantum of damages (third party claim) against bodily injury or accidental death is currently indemnified by the Takaful operators is inter alia, the above phenomenon in question. It is quite clear that, the indemnification is provided for the victim of bodily injury or death under Islamic law is determined basically based on the principles of al-Daman (compensation) and al-Diyah (blood-wit). But for quantum of damages (third party claim) in Takaful practices of today, whether the doctrines of al-Diyah and al-Daman are in fact, adapted or not is desired to be examined, and if not, what are the possibilities for the Takaful operators to apply the doctrines of al-Diyah and al-Daman in its quantum of damages (third party claim). An attempt has however, made in this manuscript, to come up with the possibilities of appreciation of the doctrines of al-Diyah and al-Daman in quantum of damages (third party claim) against an accidental death or bodily injury for the claim of both general and also special damages.
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Modern Financial Transactions under Shari’ah
Author: DR. MOHD. MA’SUM BILLAH
Publisher: Ilmiah Publishers, Kuala Lumpur, Malaysia.
Year of publication: 2003
Price: USD 15.00
Distributor: K-Professional Development Group (KPDG)
Contact: saidah@kpdg.com.my or mustakim@kpdg.com.my
The book begins with the discussion of general ethics in business transactions according to Islamic teachings. The reader is then introduced with the nature of transactions in general, classification of contract, parties thereto, subject matter of contract as well as the formalities required for the conclusion of contract. The author also explores the issue of intention and consent of parties, while the freedom of contract under Islamic law, is given special treatment.This work provides a text-reading package on regulatory frameworks of Islamic finance i.e. work is also a useful guide on Islamic financial contracts for practitioners in the Islamic commercial institutions of the contemporary markets.
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Islamic and Modern Insurance (Principles and Practices)
Author: DR. MOHD. MA’SUM BILLAH
Publisher: Ilmiah Publishers, Kuala Lumpur, Malaysia.
Year of publication: 2003
Price: USD 28.00
Distributor: K-Professional Development Group (KPDG)
Contact: saidah@kpdg.com.my or mustakim@kpdg.com.my
The modern world is mainly dominated by the rapid development of economic thought and practices accompanied by advancement in science and technology. Nevertheless, despite such monumental developments, little can be done actually to save one from encountering unpredicted risk, be it against one’s life, property, or a business venture. The majority of people agree that insurance greatly contributes to providing necessary economic security against unexpected catastrophes. The idea of insurance has been developed under Common Law without much diversification, both in principle and practices, but unfortunately, a similar scenario has not been witnessed so far under the noble teachings of Islam. It would be unfair for one to oppose the entire idea of insurance, while making no effort to come up with an alternative model of insurance, which may be justified by the Shari’ah. An attempt is therefore, made in this work to analyze the practical as well as legal ideas of Takaful (Islamic insurance) and modern insurance with a comparative treatment.The core objective of this comparative study is to contribute towards further understanding of the conceptual frameworks of both Takaful and insurance, so that the world community would be able to appreciate and recognize the Takaful (Islamic Insurance) as a suitable alternative model to the conventional insurance. It may simultaneously act as one of the promising instruments that significantly contribute in the facilitation of the process of Islamization of law and practices, affecting the insurance industry globally, as it has been gladly expected by the contemporary Muslim Ummah in their ongoing economic reality.
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Islamic Law of Trade and Finance (A Selection of Issues)
Author: DR. MOHD. MA’SUM BILLAH
Publisher: Ilmiah Publishers, Kuala Lumpur, Malaysia.
Year of publication: 2003
Price: USD 25.00
Distributor: K-Professional Development Group (KPDG)
Contact: saidah@kpdg.com.my or mustakim@kpdg.com.my
Development in trade and commercial activities under Shari’ah principles without parallel development of laws can result in destructive experience. Therefore, an attempt has been made in this research to come up with a piece of work on Islamic Law affecting some selected issues of contemporary trade and financial practices. This work deals with the issue of "Invitation to Treat" under Islamic and Common Law principles. Specific issues such as the comparison between Khiyar al-‘Arb, and caveat emptor, and also the grounds for the dissolution of partnership with a comparative treatment. The reader is also introduced with the issue of earnest money (Bay’ al-‘Urban) in financial security. The Book also discusses Halal stocks, and the Shari’ah mechanisms of determining stocks. The writer also explores the idea of Islamic Dinar as an alternative medium of exchange for Muslim countries. Islamic models of insurance i.e. the concept of Takaful in general and family or Islamic life insurance has also been analyzed in this manuscript. The study ends with an intellectual discussion on Zakat as an able alternative to the modern social security and finally a rediscovery has been made with an Islamic common market in today’s reality.
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Islamic Insurance (Takaful)
Author: DR. MOHD. MA’SUM BILLAH
Publisher: Ilmiah Publishers, Kuala Lumpur, Malaysia.
Year of publication: 2003
Price: USD 10.00
Distributor: K-Professional Development Group (KPDG)
Contact: saidah@kpdg.com.my or mustakim@kpdg.com.my
Conceptually, an insurance scheme is a joint-guarantee to provide possible indemnity or contingency against pure risk resulting from an unexpected occurrence of loss or damage to one’s life or property. Under the modern practices, the notion of insurance is well established without any confusion. Even though a conventional model is unacceptable as far as the Shari’ah is concerned, an insurance practice could still become acceptable in the Muslim society with the availability of its Shari’ah justified model, (based on the principle of al-Mudharabah, al-Tabarru’, al-Wakalah, and so on), which may act as an able alternative to that of the conventional counterpart. Unfortunately, there is still diversification of views among the Ulama on the validity of practices of Takaful. Some of them accept the model (based on al-Mudharabah financing technique, al-Wakalah, and al-Tabarru’). Some accept the practice of general insurance but oppose the practice of life insurance while others oppose the notion of insurance entirely without giving an alternate solution to it. An Islamic model of insurance is, inter alia, based on the principles of ‘al-Mudharabah financing technique, al-Tabarru’, al-Wakalah, and so on. This model is also in harmony with the principles of ‘al-Mirath’ and ‘al-Wasiyyah’ in the sense that, the beneficiary in a policy under the Islamic model is always determined in accordance with these two Divine principles. An Islamic insurance is also a mutual financing technique and a scheme of joint-guarantee in initiating for a protection of the participant against an unexpected loss or damage, which could serve as an alleviation of one’s material hardship. Such a move may contribute to a sustainable welfare of the contemporary society. The chief concept of insurance is that, it is a technique of mutual financial co-operation, which is of course in line with the Qur’anic principles of mutual cooperation. This manuscript has however, explored the very conceptual frame work of Islamic insurance (Takaful), which may suit the contemporary world of advanced-economy. It is also hoped that, this research may help the Muslim Ummah in general in understanding the central idea of Takaful in a practical nature from the Shari’ah point of view. So that further doubt and confusion on the idea of Takaful among Ummah will be cleared and may simultaneously benefit from the practices of Takaful, Inshaa-Allah (s.w.t.).
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Insurance in Islamic Law
Author: Dr. R.I. Bekkin.
Publisher: “Ankil” Publishing House, Moscow.
Year of publication: 2001
Price: USD 3.00
Contact: info1@ankil.ru or smirnova@ankil.ru- Preface
- Part I. The Problem of Correlation between Commercial Insurance and Islamic Law
- Chapter 1. Sources of Shariah and its Role in the Modern World
- Chapter 2. Some Elements of Islamic Economy
- Chapter 3. Early Forms of Insurance in the Medieval Muslim Society (on Example of Such Institutions as "Zakat" and "Diyah")
- Chapter 4. Islamic Insurance Contract from the Point of View of Islamic Law Doctrine
- Part II. Legal Aspects and Prospects of Development of Islamic Insurance in the World
- Chapter 1. The Essence of Takaful
- Chapter 2. Basic Elements of Islamic Insurance Contract
- Chapter 3. The Development of Islamic Insurance in the ASEAN countries (on Example of Malaysia)
- Chapter 4. The Prospects of Islamic Insurance in Russia
- Bibliography
- Appendix 1. Financial Highlights of Syarikat Takaful Malaysia for the Period of 1996-2000
- Appendix 2. List of Islamic Insurance (Takaful) Companies in the World
- Appendix 3. List of Re-Takaful Companies in the World
- Appendix 4. Glossary
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