Does Indonesian Ulama Council (IUC) Has Manipulated The Islamic Law by Implementing Hybrid Contract in Islamic Insurance (Ta’mîn)?

Susamto, Burhanuddin (2016) Does Indonesian Ulama Council (IUC) Has Manipulated The Islamic Law by Implementing Hybrid Contract in Islamic Insurance (Ta’mîn)? IOSR Journal of Economics and Finance, 7 (5). pp. 32-36. ISSN 2321-5933

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Abstract

It is a fact that insurance (ta’mîn) has become one of products of financial institution promising benefit guarantee for human. Nevertheless presence of insurance has provoked debate among contemporary Muslim scholars related to its validity. Some of them believe that insurance is absolutely forbidden due to the element of gambling and others allow it because there is benefit (al-maslahah). Indonesian Ulama Council (IUC) is a clerical institution that allows insurance products through an approach of hybrid contract. Through this article, the author will reveal whether IUC has legalized gambling through implementation hybrid contract (al-'uqûd al-murakkabah) in the formation of insurance products.

Item Type:	Journal Article
Keywords:	Indonesian Ulama Council; IUC; Gambling; Hybrid Contract; Insurance
Subjects:	18 LAW AND LEGAL STUDIES > 1801 Law > 180127 Mu'amalah (Islamic Commercial & Contract Law) > 18012799 Mu'amalah (Islamic Commercial & Contract Law) not elsewhere classified
Divisions:	Faculty of Sharia and Law > Department of Sharia Business Law
Depositing User:	Dr. Burhanuddin Susamto, SHI, M.Hum
Date Deposited:	01 Nov 2017 11:08

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