Islamic Insurance & Banking

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Posted: Fri Jul 17, 2009 7:19 pm Post subject: Islamic Insurance & Banking

Guys any body knows how Islamic Insurance and Banking works. There are various Islamic religious laws which have whole new different way of working structure. This is because as per Islam you are not supposed to insure your life as its like gambling and going against the religion rules. Just curious about to know more in detail

DV360

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Joined: 09 Jul 2009
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Posted: Fri Jul 17, 2009 7:33 pm Post subject:

why? _________________ "Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.

Lori

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Posted: Sat Jul 18, 2009 7:38 am Post subject:

I'm afraid DV360 there isn't much knowledge on this board regarding Islamic insurance.

Quote:

This is because as per Islam you are not supposed to insure your life as its like gambling and going against the religion rules.

Is that so?! Well, then its something interesting. Can you share more about it with us? If this statement is true then I suppose there is no life insurance company in the Islamic nations, right?

JeremyHolter

Senior member