A Study on the Implementation of Dual Contracts of Tabarru and Tijarah on Shari'ah Insurance Industries in Indonesia

Authors

Abstract

This article examines the legal issues associated with the application of the dual contract system, tabarru’ and tijÄrah, in sharia insurance industries in Indonesia. This qualitative study used secondary data. It is linked up with clauses and conditions of the contract used by Islamic insurance industries in Indonesia. This method is used for the purpose to examine the legal reasoning regarding the application of the contracts of tabarru’ and tijÄrah in Islamic insurance products. The research approach to the problems is normative-juridical. It is a method employed to figure out the legal problems based on secondary data. This study found that the application of Islamic insurance contracts was not created a separation between the returns obtained from the sectors tabarru’ with tijÄrah. This shows that the dualism of tabarru’ and tijÄrah contracts in sharia insurance in Indonesia is not in line with the basic principles of sharia engagement.

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Author Biography

Nafis Irkhami, State Institute of Islamic Studies, IAIN Salatiga, Indonesia

Nafis Irkhami is an associate professor on Islamic economic at State Institut of Islamic Studies (IAIN) Salatiga, Indonesia. His focuse is on Islamic Ethical Bussines and Finance.

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Published

2017-12-26

How to Cite

Irkhami, N. (2017). A Study on the Implementation of Dual Contracts of Tabarru and Tijarah on Shari’ah Insurance Industries in Indonesia. Journal of Islamic Finance, 6(2), 045–057. Retrieved from https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/232

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