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Hamidullah on Mutuality based Islamic Insurance

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  • Islahi, Abdul Azim

Abstract

Dr. Muhammad Hamidullah (1908-2003) is well-known for discovery, editing and bringing in light a number of rare and invaluable Islamic manuscripts. A significant aspect of his contribution is his pioneering writings on Islamic Economics. He authored more than a dozen essays related to Islamic economics. He is the first to use this term as early as 1936 in his work “Islam’s Solution to the Basic Economic Problems – the Position of Labour”. He is also pioneer writer on mutuality-based Islamic insurance, now known as 'takāful'. After surveying the development of Islamic insurance, the present paper studies and evaluates Dr Hamidullah's contribution to mutuality-based insurance.

Suggested Citation

  • Islahi, Abdul Azim, 2013. "Hamidullah on Mutuality based Islamic Insurance," MPRA Paper 66434, University Library of Munich, Germany, revised Sep 2013.
    • Handle: RePEc:pra:mprapa:66434
    as

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    File URL: https://mpra.ub.uni-muenchen.de/66434/1/MPRA_paper_66434.pdf
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    References listed on IDEAS

    as
    1. Mohammed Obaidullah, 2005. "The Islamic Financial Services الخدمات المالية الإسلامية," Books published by the Islamic Economics Institute, KAAU., King Abdulaziz University, Islamic Economics Institute., edition 1, number 40, July.
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    More about this item

    Keywords

    Islamic insurance; Mutuality; Takaful; Maʿāqil; Reciprocal inter-insurance exchange; Ta’mīn.;
    All these keywords.

    JEL classification:

    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals
    • G1 - Financial Economics - - General Financial Markets

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