Prohibitive elements in Islamic commercial transactions such as riba, gharar, and maysir are also prohibited in the design of takaful models.

Question

Quizplus · Accepted Answer

Takaful models, which are Islamic insurance products, are designed to comply with Islamic law, which prohibits elements such as riba (usury or interest), gharar (excessive uncertainty), and maysir (gambling). These prohibitions ensure that takaful models operate in a manner that is ethical and in accordance with Islamic principles.

Prohibitive Elements in Islamic Commercial Transactions Such as Riba, Gharar