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The Halal World
8/10/2013 Hour 15:44

Halal Standard in Insurance Industry

Recently the draft of halal standards in banking had been presented and now it is time for research in insurance industry. Insurance industry is a new industry which has so much growth in recent decades.

New insurance agreements between client and insurer are in a way that some of sects believe it is "haram", however some consider it halal agreement. Some of the Islamic countries via fiqh academy in Jeddah, have substitute a new kind of agreements which are known as Takaful and now many companies are working in title of that in these countries and other countries like Malaysia. Accurate study of all of these insurance agreement Takaful and conformation them with all of Islam sects, is a big project that halal world organization with the help of collegial and religious schools, is committed to do it and results will be available soon.