Proposals Of Insurance Model To Interest Free Banking
Abstract
Since the ancient times, humankind has always been faced with hazardous situations, struggled to survive
and experienced loss of lives, property and valuables at the end of these combats. Societies have been
applied several measures to minimize these losses and damages that they experience along with their
lives. Indeed, because it is usually not possible to compensate the economic losses by the people incurred
these damages, the insurance mechanism has arisen, which constitutes a precaution mechanism against
adverse circumstances that could be faced in the future and this material burden has been shared among
individuals by distributing it to extensive masses of people in the expense of a small premium to
compensate their losses. In our contemporary era, the insurance sector has economic benefit more than
its social dimension; and one of the reasons which prevent its expansion in a country with Muslim
majority such as Turkey is the religious preferences and social life style of the people. From this point
of view, the present study aims to investigate how insurance process in the interest-free banking can be
applied in terms of practical and theoretical ways.
Collections

DSpace@Karatay by Karatay University Institutional Repository is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 4.0 Unported License..