AAOIFI Shari'ah Standards # 26 & 41: Islamic Insurance & Reinsurance

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AAOIFI Shari'ah Standards # 26 & 41: Islamic Insurance & Reinsurance

Description: The course will cover the AAOIFI Shari’ah Standard for Islamic Insurance in terms of its definition, Shari'a status, characteristics, principles, basic elements, types, and how it differs from Conventional Insurance.

Start Date: February 6, 2022

Day/Time: Sunday 10:45 AM UTC

Course Duration: 4 weeks (50 min)

Main Topics:

  • Definition of Islamic Insurance and Reinsurance in contrast with Conventional Insurance 
  • Status of Islamic Insurance according to Fiqh 
  • Contractual Relationships in Islamic Insurance 
  • Most Important Methods of Reinsurance
  • The principles and Shari'a bases of Islamic Insurance
  • Controls on Reinsurance with Traditional Reinsurance Companies
  • Types of Islamic Insurance
  • Participation in insurance
  • The Shari’ah Basis for the Standard
  • Resolutions of Fiqh forums on insurance 
  • A Model Reinsurance Agreement Issued by Islamic Insurance Company