The important thing about Islamic insurance in UAE that I will explain now is seven criteria of Islamic insurance in UAE. I want you to understand all of that because these are some of the important things about Islamic insurance in UAE that must be well understood.
In general, there are seven criteria of Islamic insurance in UAE:
Tawhid is the first Islamic insurance principle in UAE. The point is that Islamic insurance is not only aimed at obtaining financial benefits, but also other benefits according to Islamic teachings. Therefore, the main purpose of Islamic insurance is the good for Muslims.
Fair is the second principle of Islamic insurance in UAE. The point is that the management of Islamic insurance funds in Islam is carried out fairly, not benefiting one party and harming the other party.
Justice is one of the principles of sharia. Muslims must be fair in all things. In the context of insurance, they are also required to be fair.
We can find an explanation that Muslims are required to be fair in all things, and in the context of insurance as a part of their lives, in the hadith below:
عَنْ عَائِشَةَ رَضِيَ اللَّهُ عَنْهَا أَنَّ قُرَيْشًا أَهَمَّهُمْ شَأْنُ الْمَرْأَةِ الْمَخْزُومِيَّةِ الَّتِي سَرَقَتْ فَقَالُوا وَمَنْ يُكَلِّمُ فِيهَا رَسُولَ اللَّهِ صَلَّى اللَّهُ عَلَيْهِ وَسَلَّمَ فَقَالُوا وَمَنْ يَجْتَرِئُ عَلَيْهِ إِلَّا أُسَامَةُ بْنُ زَيْدٍ حِبُّ رَسُولِ اللَّهِ صَلَّى اللَّهُ عَلَيْهِ وَسَلَّمَ فَكَلَّمَهُ أُسَامَةُ فَقَالَ رَسُولُ اللَّهِ صَلَّى اللَّهُ عَلَيْهِ وَسَلَّمَ أَتَشْفَعُ فِي حَدٍّ مِنْ حُدُودِ اللَّهِ ثُمَّ قَامَ فَاخْتَطَبَ ثُمَّ قَالَ إِنَّمَا أَهْلَكَ الَّذِينَ قَبْلَكُمْ أَنَّهُمْ كَانُوا إِذَا سَرَقَ فِيهِمْ الشَّرِيفُ تَرَكُوهُ وَإِذَا سَرَقَ فِيهِمْ الضَّعِيفُ أَقَامُوا عَلَيْهِ الْحَدَّ وَايْمُ اللَّهِ لَوْ أَنَّ فَاطِمَةَ بِنْتَ مُحَمَّدٍ سَرَقَتْ لَقَطَعْتُ يَدَهَا
From Aisha, that Quraish were anxious about the Makhzumi woman who had committed theft, they said: Who will speak to the Messenger of Allah sallallahu alaihi wa sallam about her? Then they said: Who will be bold enough for it but Usamah bin Zaid, the prophet’s (sallallahu alaihi wa sallam) friend! So Usamah spoke to him, and the Messenger of Allah sallallahu alaihi wa sallam said: Are you interceding regarding one of the punishments prescribed by Allah? He then got up and gave an address, saying: What destroyed your predecessors was just that when a person of rank among them committed a theft, they left him alone, and when a weak one of them committed a theft, they inflicted the prescribed punishment on him. I swear by Allah that if Fatimah daughter of Muhammad should steal, I would have her hand cut off.
- Mutual help.
Mutual help is the third principle of Islamic insurance in UAE. The point is that the purpose of Islamic insurance in Islam is mutual help. In fact, Muslims are required to help each other in all aspects of life.
We can find an explanation that Muslims must help each other in all things, and in the context of insurance as a part of their lives, in the following Quranic verse:
يٰٓاَيُّهَا الَّذِيْنَ اٰمَنُوْا لَا تُحِلُّوْا شَعَاۤىِٕرَ اللّٰهِ وَلَا الشَّهْرَ الْحَرَامَ وَلَا الْهَدْيَ وَلَا الْقَلَاۤىِٕدَ وَلَآ اٰۤمِّيْنَ الْبَيْتَ الْحَرَامَ يَبْتَغُوْنَ فَضْلًا مِّنْ رَّبِّهِمْ وَرِضْوَانًا ۗوَاِذَا حَلَلْتُمْ فَاصْطَادُوْا ۗوَلَا يَجْرِمَنَّكُمْ شَنَاٰنُ قَوْمٍ اَنْ صَدُّوْكُمْ عَنِ الْمَسْجِدِ الْحَرَامِ اَنْ تَعْتَدُوْاۘ وَتَعَاوَنُوْا عَلَى الْبِرِّ وَالتَّقْوٰىۖ وَلَا تَعَاوَنُوْا عَلَى الْاِثْمِ وَالْعُدْوَانِ ۖوَاتَّقُوا اللّٰهَ ۗاِنَّ اللّٰهَ شَدِيْدُ الْعِقَابِ
O you who have believed, do not violate the rites of Allah or [the sanctity of] the sacred month or [neglect the marking of] the sacrificial animals and garlanding [them] or [violate the safety of] those coming to the Sacred House seeking bounty from their Lord and [His] approval. But when you come out of ihram, then [you may] hunt. And do not let the hatred of a people for having obstructed you from al-Masjid al-Haram lead you to transgress. And cooperate in righteousness and piety, but do not cooperate in sin and aggression. And fear Allah; indeed, Allah is severe in penalty. (Al-Maidah ; 2).
Cooperation is the fourth principle of Islamic insurance in UAE. The point is that each party must carry out their respective obligations according to the agreement. So, there is no party that does not fulfill its obligations.
We can find an explanation that Muslims are required to cooperate in all things, and in the context of insurance as a part of their life, in the above verse of the Quran and the hadith below:
عَنْ أَبِي مُوسَى رَضِيَ اللهُ عَنْهُ عَنِ النَّبِيِّ صَلَّى اللهُ عَلَيْهِ وَسَلَّمَ قَالَ : الْمُؤْمِنُ لِلْمُؤْمِنِ كَالْبُنْيَانِ يَشُدُّ بَعْضُهُ بَعْضًا . وَشَبَّكَ بَيْنَ أَصَابِعِهِ
From Abu Musa radliyallahu anhu, from Prophet (Muhammad), he said, “A believer to another believer is like a building whose different parts enforce each other.” The Prophet then clasped his hands with the fingers interlaced (while saying that).
Trust is the fifth principle of Islamic insurance in UAE. The point is that each party trusts the other party to carry out their respective obligations. For example, insurance owners trust insurance companies to manage Islamic insurance funds according to Islamic principles.
We can find an explanation that Muslims are required to be trusted or keep their promises, in the context of insurance as a part of their lives in this discussion, in the hadith below:
عَنْ أَبِي هُرَيْرَةَ رَضِيَ اللهُ عَنْه ، عَنِ النَّبِيِّ صَلَّى اللهُ عَلَيْهِ وَسَلَّمَ : قَالَ : آيَةُ الْمُنَافِقِ ثَلاَثٌ إِذَا حَدَّثَ كَذَبَ ، وَإِذَا وَعَدَ أَخْلَفَ ، وَإِذَا اؤْتُمِنَ خَانَ
From Abu Hurairah radliyallahu anhu, from The Prophet (Muhammad), he said, “The signs of a hypocrite are three: (one) if he speaks, he lies, (two) if he promises, he breaks his promise, (three), if he is trusted, he betrays.”
Volunteering is the sixth principle of Islamic insurance in UAE. The point is that neither party compels the other party. So, the owner of the Islamic insurance must not force the Islamic insurance company, and the insurance company must not force the owner of the insurance. Everything must be on a voluntary basis.
We can find an explanation that Muslims should not impose their wishes on others, and in the context of insurance as a part of their lives in this discussion, so that all can volunteer when they do whatever they want in the hadith below:
عَنْ مُعَاوِيَةَ بْنِ أَبِيْ سُفْيَانَ رَضِيَ اللهُ عَنْهُمَا قَالَ : قَالَ رَسُولُ اللَّهِ صَلَّى اللهُ عَلَيْهِ وَسَلَّمَ : لاَ تُلْحِفُوا فِي الْمَسْأَلَةِ فَوَاللَّهِ لاَ يَسْأَلُنِي أَحَدٌ مِنْكُمْ شَيْئًا فَتُخْرِجَ لَهُ مَسْأَلَتُهُ مِنِّي شَيْئًا وَأَنَا لَهُ كَارِهٌ فَيُبَارَكَ لَهُ فِيمَا أَعْطَيْتُهُ
From Muawiyah bin Abi Sufyan radliyallahu anhuma, he said, “The Messenger of Allah sallallahu alaihi wa sallam said, “Do not be importunate in asking (for something), for by Allah, if one of you asked me for something and I gave it to him while I am reluctant, there will be no blessing in what I gave him.”
- Managing Islamic insurance funds according to sharia principles and Islamic rules.
Managing Islamic insurance funds according to sharia principles and Islamic rules is the seventh principle of Islamic insurance in UAE. All funds must be managed in the right way according to Islamic teachings.
We can find an explanation that Muslims must do everything according to Islamic rules, and in the context of insurance as a part of their lives, in the following Quranic verse:
يٰٓاَيُّهَا الَّذِيْنَ اٰمَنُوْٓا اَطِيْعُوا اللّٰهَ وَاَطِيْعُوا الرَّسُوْلَ وَاُولِى الْاَمْرِ مِنْكُمْۚ فَاِنْ تَنَازَعْتُمْ فِيْ شَيْءٍ فَرُدُّوْهُ اِلَى اللّٰهِ وَالرَّسُوْلِ اِنْ كُنْتُمْ تُؤْمِنُوْنَ بِاللّٰهِ وَالْيَوْمِ الْاٰخِرِۗ ذٰلِكَ خَيْرٌ وَّاَحْسَنُ تَأْوِيْلًا
O you who have believed, obey Allah and obey the Messenger and those in authority among you. And if you disagree over anything, refer it to Allah and the Messenger, if you should believe in Allah and the Last Day. That is the best [way] and best in result. (An-Nisa’ ; 59).
That is a brief explanation of Islamic insurance criteria in UAE. As Muslims, we must understand that.
That’s a brief explanation of Islamic insurance in UAE and some important things about it. Do you understand? If you want to ask, please ask!
I think that’s enough for this article. Hope it is useful. Amen.
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