The paper is about conventional insurance and takaful insurance in
contemporary Islamic law. Insurance is one of the non bank
financial institution that function to collect public funds to provide
protection against the risk of uncertainty resulting from the
occurence of accidentns, accidents or other losses. Insurance based
on the operational system is divided into two types, namely
conventional insurance and takaful insurance. Takaful Insurance is
classified as a new non-bank financial institution innovation and
based on the principles of Islam, the Takaful is still not known by the
people of Indonesia whose population is mostly Muslim. Of the
phenomenon the authors try to discuss about conventional insurance
and takaful insurance in contemporary islamic law.
Keywords : Conventional Insurance, Takaful Insurance and
Contemporary Islamic Law
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