5 Questions
What are the three major issues among Shariah scholars regarding conventional insurance?
Gharar, riba, and maysir
What is the position of the majority of juristic scholars on the practices of conventional insurance?
They are not in line with Shariah and are therefore not permitted
Which of the following is NOT one of the major elements of conventional insurance that are problematic from a Shariah perspective?
Lack of transparency
What is the relationship between the element of gharar in conventional insurance and the issue of maysir (gambling)?
Gharar can lead to the issue of maysir, according to Shariah scholars
What is the key condition under which the majority of juristic scholars would consider conventional insurance practices to be permitted in Islam?
If the major elements of gharar, riba, and maysir can be eliminated
Learn about the central arguments among Shariah scholars regarding the compatibility of conventional insurance with Islamic principles, focusing on issues like gharar, riba, and maysir. Understand the key factors influencing the debate on insurance within an Islamic framework.
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