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Uncertainty, interest, gambling and conventional insurance

Htay, Sheila Nu Nu and Syed, Ahmed Salman (2013) Uncertainty, interest, gambling and conventional insurance. In: 1st International Conference on Advancements in Commerce, Engineering, Management and Technology. , 31 March 2013, Hotel Surya, Solapur, India..

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This paper acknowledges the needs of insurance in our daily life. The involvement of unfair elements in insurance brings the unjust contracts between the insurance companies and the insured. This paper takes social-economic justice approach to examine the unfair nature of insurance. It is highlighted that insurance involves uncertainty, interest and gambling. These are the main prohibited elements from Islam and these elements make insurance prohibited from the Islamic aspect.

Item Type: Conference or Workshop Item (Full Paper)
Additional Information: 6177/31223
Uncontrolled Keywords: insurance, unjust contracts, uncertainty, interest, gambling
Subjects: H Social Sciences > HG Finance > HG1501 Banking
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Institute of Islamic Banking & Finance (IIiBF)
Depositing User: Dr. Sheila Nu Nu Htay
Date Deposited: 02 Aug 2013 08:02
Last Modified: 26 Nov 2013 09:52
URI: http://irep.iium.edu.my/id/eprint/31223

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