Monday, December 10, 2007
allah..
Allah! I ask You for Your Love, the love of those who love You, and deeds which will cause me to attain Your Love. O Allah! Make Your Love dearer to me than myself, my family and the cold water.
Sunday, December 9, 2007
ISLAMIC ALTERNATIVE TO LIFE INSURANCE
Takaful (The Islamic Alternative To Life Insurance) Products
Approved by the Islamic Fiqh Academy (Mecca), Grand Sharia' Scholars Panel (Kingdom of Saudi Arabia), Sharia' Organizations in the Islamic Countries and the Sharia' Supervisory Board of Qatar Islamic Insurance Company (QIIC).
Securing the Future of Your Family and Protecting its Members from Life's Perils and Uncertainties Are Your Prime Goals in Life.
You realize, no doubt, that the burdens of life and the cost of living are constantly increasing, especially as basic social services are no longer provided free.
You strive to provide the best higher education and health care to your family. You will do your utmost to contribute towards your children's marriage expenses. You will certainly need to start planning and saving money as soon as you can to finance the cost of building your family home.
And, as your retirement pension will not grow in line with the fast growing cost of living, you will be more confident if you guarantee an additional source of income to cover any shortfall in your future financial needs.
Top
Being the prime provider of your family, you will always endeavor to secure an alternative source of income for your family, in case your income ceases abruptly due to your untimely death or permanent total disability.
To give you the peace of mind and reassurance that everything will be all right for your family, Qatar Islamic Insurance Company (QIIC) launched its Takaful insurance products in March 2000.
Obtaining one of QIIC's Takaful Insurance products is the best thing you can do for yourself, your family, and/or your business.
Takaful Insurance - based on Islamic principles - is the Islamic equivalent of life insurance and the reliable source of financial planning for individuals and businesses.
The prime objective of Takaful insurance is protecting a family in the event of the untimely death or permanent total disability of its provider through the sum payment assured to the policyholder (in the event of permanent total disability), or to the heirs, or any beneficiary the policyholder named in the policy (in case of death).
The Prophet (peace be upon him) said: "It is better to leave your heirs rich than to leave them poor and needy asking others for help".
If you own or manage a commercial project, a professional firm or an industrial entity, you could be forced to bear unnecessary financial losses in the event of the death or disability of one of your staff. Issuing a Group Takaful Insurance Policy covering your employees will pass the financial burdens of such eventualities to QIIC.
Takaful insurance with investment is an effective financial planning tool that will assist you (the family provider) to accumulate capital through savings and investment programs during your family's establishment stages.
Approved by the Islamic Fiqh Academy (Mecca), Grand Sharia' Scholars Panel (Kingdom of Saudi Arabia), Sharia' Organizations in the Islamic Countries and the Sharia' Supervisory Board of Qatar Islamic Insurance Company (QIIC).
Securing the Future of Your Family and Protecting its Members from Life's Perils and Uncertainties Are Your Prime Goals in Life.
You realize, no doubt, that the burdens of life and the cost of living are constantly increasing, especially as basic social services are no longer provided free.
You strive to provide the best higher education and health care to your family. You will do your utmost to contribute towards your children's marriage expenses. You will certainly need to start planning and saving money as soon as you can to finance the cost of building your family home.
And, as your retirement pension will not grow in line with the fast growing cost of living, you will be more confident if you guarantee an additional source of income to cover any shortfall in your future financial needs.
Top
Being the prime provider of your family, you will always endeavor to secure an alternative source of income for your family, in case your income ceases abruptly due to your untimely death or permanent total disability.
To give you the peace of mind and reassurance that everything will be all right for your family, Qatar Islamic Insurance Company (QIIC) launched its Takaful insurance products in March 2000.
Obtaining one of QIIC's Takaful Insurance products is the best thing you can do for yourself, your family, and/or your business.
Takaful Insurance - based on Islamic principles - is the Islamic equivalent of life insurance and the reliable source of financial planning for individuals and businesses.
The prime objective of Takaful insurance is protecting a family in the event of the untimely death or permanent total disability of its provider through the sum payment assured to the policyholder (in the event of permanent total disability), or to the heirs, or any beneficiary the policyholder named in the policy (in case of death).
The Prophet (peace be upon him) said: "It is better to leave your heirs rich than to leave them poor and needy asking others for help".
If you own or manage a commercial project, a professional firm or an industrial entity, you could be forced to bear unnecessary financial losses in the event of the death or disability of one of your staff. Issuing a Group Takaful Insurance Policy covering your employees will pass the financial burdens of such eventualities to QIIC.
Takaful insurance with investment is an effective financial planning tool that will assist you (the family provider) to accumulate capital through savings and investment programs during your family's establishment stages.
Thursday, December 6, 2007
takaful and risk management
In modern business, one of the ways to reduce the risk of loss due to misfortunes is through insurance. The concept of insurance where resources are pooled to help the needy does not contradict Shariah.
The concept is in line with the principles of compensation and shared responsibilities among the community. It is not a new concept, in fact it had been practised by the Muhajrin of Mecca and the Ansar of Medina following the hijra of the Prophet over 1400 years ago. It is generally accepted by Muslim Jurists that the operation of conventional insurance does not conform to the rules and requirements of Shariah.
Conventional insurance involves the elements of uncertainity (Al-gharar) in the contract of insurance, gambling (Al-maisir) as the consequences of the presence of uncertainty and interest (Al-riba) in the investment activities of the conventional insurance companies which contravene the rules of Shariah. Takaful is an alternative form of cover which a Muslim can avail himself against the risk of loss due to misfortunes.
The Institute receives numerous requests for information about the permissibility, concept and practice of Takaful (Islamic Insurance) and about organisations engaged in Takaful business. These requests underline important two facts. Firstly, that there is a rapidly increasing interest in it and secondly, there is an acute shortage of information on various aspects of Takaful. Moved by these factors, the Institute decided to include a section on Takaful to fill this important information gap.
The Institute has already published an International Directory of Islamic Insurance (Takaful) Organisations, listing not only the companies in this field and their particulars, but also a number of articles on various aspects of this system.
"I think that you are doing a great service to Islamic banking and insurance and I second your judgment about the importance of Takaful in modern economic life and hope that your Institute will make many contributions to this open area." Dr. Omar Zubair HafizDeputy Director, Islamic Development Bank, Jeddah.
The concept is in line with the principles of compensation and shared responsibilities among the community. It is not a new concept, in fact it had been practised by the Muhajrin of Mecca and the Ansar of Medina following the hijra of the Prophet over 1400 years ago. It is generally accepted by Muslim Jurists that the operation of conventional insurance does not conform to the rules and requirements of Shariah.
Conventional insurance involves the elements of uncertainity (Al-gharar) in the contract of insurance, gambling (Al-maisir) as the consequences of the presence of uncertainty and interest (Al-riba) in the investment activities of the conventional insurance companies which contravene the rules of Shariah. Takaful is an alternative form of cover which a Muslim can avail himself against the risk of loss due to misfortunes.
The Institute receives numerous requests for information about the permissibility, concept and practice of Takaful (Islamic Insurance) and about organisations engaged in Takaful business. These requests underline important two facts. Firstly, that there is a rapidly increasing interest in it and secondly, there is an acute shortage of information on various aspects of Takaful. Moved by these factors, the Institute decided to include a section on Takaful to fill this important information gap.
The Institute has already published an International Directory of Islamic Insurance (Takaful) Organisations, listing not only the companies in this field and their particulars, but also a number of articles on various aspects of this system.
"I think that you are doing a great service to Islamic banking and insurance and I second your judgment about the importance of Takaful in modern economic life and hope that your Institute will make many contributions to this open area." Dr. Omar Zubair HafizDeputy Director, Islamic Development Bank, Jeddah.
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