Juridical Foundations in Redistribution of Takaful fund Surplus

Nowadays, Takaful, as one of the most widely used models in insurance, has caught the attention of scholars and actors in financial markets of various countries of the world, especially market for insurance products. Takaful, on the one hand because of consistency with Sunni jurisprudence and on the other hand as a part of developing Islamic financial system, is growing and expanding at a rapid rate in such a way that apart from Moslem countries (Sunni countries), other countries including European and American have also been experiencing the establishment of numerous companies offering products Takaful. For this reason, theoretical and practical analysis of the pattern has had a great significance in recent years, though the subject has not been discussed so much in has academic circles. On of the characteristics of Takaful model is its consistency with both Shiite and Sunni jurisprudences. Public participation as insured and the insurer in the foundation of all Takaful funds is the most important factor that causes more and more willingness of people from different countries to work in Takaful insurance, which brings about the economic development of that society. This paper concerns the examination of its surplus legitimacy and its juridical foundations. Through a library base study and by referring to pervious documents and studies, the article aims to prove that participant’s profits from insurance activities of this type have legal foundations in Shiite jurisprudence in terms of religious terms like gratuitous donation (Hebba).

Takaful Fund, Takaful Fund Surplus, in-gratuitous donation, jurisprudence