An Analytical review of Muslim jurist contribution regarding insurance

Abstract

Islam is a complete code of life and way of life. In which there is complete guidance in all spheres of life including trade, the most difficult issues of halal and haram in Islam have been explained in a very clear and unambiguous manner. For this, some rules and regulations have been laid down, which are the guiding principles. Islam encourages all these methods of trade, in which neither the seller nor the buyer is deceived, and it is forbidden in such ways. These great commercial principles of Islam have in fact been formulated for our own benefit. The Bima (insurance) contract is also one of the modern business contracts that did not exist in the early days of Islamic jurisprudence. He described all the vices in the bima (insurance) contract, which are prohibited by Islamic law and amended it to eliminate these vices and to clarify the legitimacy of insurance so that people can avoid the vices from which Sharia Islam forbids.