Tuesday, August 17, 2010

Islamic Insurance System Has Advantages

Islamic Insurance System has a different and more advantages when compared to conventional insurance. There are differences and advantages of the storage procedures of funds, the operationalization of the insurance fund, and the deal.

Muhammad Zubair as Chairman of Insurance Association of Syariah Indonesia (AASI), says there is a difference between Islamic and conventional insurance, included the placement of funds based on profit sharing rather than interest, premium insurance company may not be used for things that violate the Shari'a, the money given to the client's customers the company may not be used if the client paid the premium due, and if the company is profitable, the profit cut 2.5 percent to charity.
"Insurance sharia is superior in terms of the contract. The contract must be clear, because it determines the legitimacy of the Shari'a. Clients / customers can take mudharabah or tabarru. Principle rather than buying and selling as in conventional insurance, but help each other, "said Zubair, the Islamic Insurance Talk Show that was held at the Faculty of Syariah and Law, at the Theatre lt.2, Tuesday (1 / 5). Despite its many advantages, says President MAA Life Assurance Sharia, Hardy Harahap still faces some problems, especially the lack of regulations governing the insurance system. Now, there is a new Act which relate specifically to regulate Islamic insurance systems, namely Law No. 2 of 1992.However, Hardy continued, the Act had not been able to accommodate all the needs associated with the regulation of insurance.
Hardy pointed out, if there is a dispute between the company and the customer claims, then according to the Act that must be resolved in sharia courts. Meanwhile, the government has not provided the institutional sharia courts, such courts exist in Aceh. Facing the issue, Hardy requested a draft Act on the insurance manager, who later submitted to the government. The effort was to no disability insurance system of sharia law and maintained the purity of the elements of usury.
"Insurance should be used for the benefit of humankind," said Hardy. Legislation invitation must be equipped, in order to simplify the bureaucratic process and the increasing interest of Muslims to immediately switch to Islamic insurance .

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