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Shariah Scholars' Debate on Conventional Insurance in Islam

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Shariah Scholars' Debate on Conventional Insurance in Islam

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Questions and Answers

What are the three major issues among Shariah scholars regarding conventional insurance?

Gharar, riba, and maysir (correct)

Ambiguity, usury, and speculation

Lack of transparency, prohibited transactions, and risk-taking

Uncertainty, interest, and gambling

What is the position of the majority of juristic scholars on the practices of conventional insurance?

They are permitted in Islam if the major elements can be eliminated

They are a necessary evil and should be tolerated in modern times

They are not in line with Shariah and are therefore not permitted (correct)

They are allowed with some restrictions and modifications

Which of the following is NOT one of the major elements of conventional insurance that are problematic from a Shariah perspective?

Speculation (maysir)

Lack of transparency (correct)

Uncertainty (gharar)

Interest (riba)

What is the relationship between the element of gharar in conventional insurance and the issue of maysir (gambling)?

<p>Gharar can lead to the issue of maysir, according to Shariah scholars</p> Signup and view all the answers

What is the key condition under which the majority of juristic scholars would consider conventional insurance practices to be permitted in Islam?

<p>If the major elements of gharar, riba, and maysir can be eliminated</p> Signup and view all the answers

Shariah Scholars' Debate on Conventional Insurance in Islam

Choose a study mode

Podcast

Questions and Answers

What are the three major issues among Shariah scholars regarding conventional insurance?

What is the position of the majority of juristic scholars on the practices of conventional insurance?

Which of the following is NOT one of the major elements of conventional insurance that are problematic from a Shariah perspective?

What is the relationship between the element of gharar in conventional insurance and the issue of maysir (gambling)?

What is the key condition under which the majority of juristic scholars would consider conventional insurance practices to be permitted in Islam?

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