Sharia Insurance Management Division. What is Sharia Insurance? Takaful, which is based on sharia principles. other than that Sharia Insurance is also a mutual effort to protect, maintain and help to help among a number of people through investments in the form of assets that provide a pattern of return to deal (challenge) certain risks through a contract or agreement of agreement in accordance with sharia.
Here are two categories of Sharia Insurance Mechanism.
Risk Transfer, which is the concept of conventional insurance in which the company receives a premium from participants as compensation for the transfer of risk to him.
Risk Sharing, the intention is in Sharia Insurance among insurance participants should help each other to share the risks that will be faced by collecting a number of premiums in which there are new funds.
Use of Sharia Insurance Fund.
Premium. the scholars have agreed that the interest (additional) is a riba so that in sharia view, the system of determining the premium amount used in conventional insurance cannot be justified because the interest as intended can cause injustice and other elements that are banned from Islam.
Investigation
Reinsurance
The Purpose of Financial Accounting for Sharia Insurance.
The purpose of accounting information in a syariah bank or broader Islamic financial institution emerged for two reasons, namely:
1.Sharia financial institutions are run with the sharia framework, as a result of the nature of transactions that are different from conventional financial institutions.
2.Users of anticipation information in Islamic financial institutions are different from users of accounting information in conventional financial institutions
Here are some great benefits of Sharia Insurance.
1.In general can aim to provide protection, the protection in question is the protection from the risk of loss received by one party.
2.Growing sense of brotherhood and sense of companionship among members
3.Equity costs, maxdunya is enough to spend a certain amount, and do not have to pay (replace) own losses arising.
4.As a saving, because the amount paid on the insurer will be refunded at the time of the event or the cessation of the contract.
5.Cover the loss of coming power of a person or business entity when he/she can not work (function).