Islamic Insurance Applications In Economy: Sample Of Malaysia

Today, one of the basic reason impeding the development of insurance sector, one of the most important elements of the capital market and economic world with its economic utilities rather than its economic utilities, is the religious beliefs of societies and also the social life. When the issue is examined in terms of belief, in the Muslim countries like Turkey, the reason for that the development of insurance is slow is the thoughts about Islamic issues. In Islamic religion, prohibitions of the things such as the interest and uncovered gain, since they are deemed as undeserved gain; that the insurance cannot be explained in full meaning; and that the foundation of the institutional structure cannot be formed in full meaning negatively affected the human beings and led them to regard to the insurance sector in doubt and keep away. Today, modern commercial insurance is carried out in Islamic literature as Takaful transactions. The Takaful transactions meaning the mutual protection, in case that the loses and harms, which are suggested in the agreement, occur, includes a long termed financial aids to the policy owners or their inheritors. The aim of this study is to study the Takaful transactions, seen as a sector which makes great contributions to the economy and is promising, in respect with the funds formed by them, in the sample of Malaysia. In the study, in the light of analysis of theoretical and numerical data, an evaluation will be made.