Book title is “The Islamic Insurance Theory and Practice” Written by Dr Ahmed Salem Mulhim PhD in Comparative Jurisprudence Jordan University and Ahmed Mohammad Sabbagh General Manager of The Islamic Insurance Company at Amman Jordan. This book contains Islamic aspects of Insurance policies in the English language.
Insurance is one of the means people have used for ages to deal with the consequences of damages, risks, and disasters which befall them in order to alleviate their impact or to avoid them completely. Insurance has developed to cover most economic activities such as commerce, industry, and agriculture. People resort to insurance even though it might not be compulsory by law. For example, insurance against public liability resulting from car accidents is compulsory in reality because people have no means, except insurance, as an effective guarantee against risks to which they are exposed.
Cooperative Insurance (Takaful) has been established and considered a legitimate alternative to Commercial Insurance by a decision issued by the Islamic Jurisprudence Council. Consequently, it has been necessary to develop different ways to deal with Cooperative Insurance and to draw up a new broad perspective for it. This will allow the establishment of Islamic insurance companies, whereby Cooperative Insurance becomes the basis for their business and their transactions.