Not Got Riba in Sharia Insurance

Insurance by a number of people is said to contain haram and usury. Including sharia insurance which in its business operations has run according to the Shari'a.

Sharia Economic Observers M Syakir Sula explained in Indonesia there are still people who call Islamic insurance still unclean.

"Let alone the conventional ones are said to be haram, the sharia is the same," said Syakir in a Prudential Sharia discussion for All, in Jakarta, Wednesday (03/07/2018).

He explained, the circles only used references that were 'old school' so that they did not experience changes.

"So is the statement of Islamic insurance unclean? They just want to listen to the previous references do not want to read the latest references from modern scholars," he added.

Syakir explained the concept of Islamic insurance consisting of a group of people who want to help each other, protect each other, guarantee and cooperate with the issuance of Tabarru funds.

Tabarru Fund is a collection of funds collected by participants who aim to pay compensation to participants who experience disasters or other parties who are entitled or if conventional insurance is known as a premium.

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According to Syakir, in Islamic insurance there are two businesses that run, namely helping (Taawun) and business (Tabarru). Well, what is still called haram is business-based Islamic insurance such as unit link products.

In unit link products there are funds that are used for investment and in a certain period will get a return in a certain amount according to the agreement.

"The elements of this business are still said to be haram. But in insurance it is not possible for business only and surely there is help to help? Is it practically haram? According to insurance theory. Then the contract used in Islamic insurance is according to sharia as well as murharabah and ujrah, "he added.

For the use of funds for sharia life insurance there is a separation of funds, namely Tabarru funds and participant funds. So that you don't know the term of charred funds. Then for Term Insurance and General Insurance entirely Tabarru. Unlike conventional insurance that does not have a separation of funds. This will result in a charred fund for saving life products.

Syakir explained, in sharia insurance, companies are not allowed to invest which is contrary to sharia principles or investments in prohibited places.

Sharia Insurance is insurance based on sharia principles with help-to-help efforts (ta'awuni) and mutual protection (takafuli) among Participants through the formation of a pool of funds (Tabarru 'Fund) which is managed according to sharia principles to face certain risks.

Providing collateral for loss of money, gold and / or equivalent to money (Checks, Bank Notes, Wesel) owned by the Insured as long as it is stored in a safe, vault or other depository; during delivery from one place to another; when stored at the cashier or counters where transactions are carried out; and guarantee the loss of the insured's money due to dishonesty of employees who are trusted in managing money.