Jalaluddin, M. Shabri Abd. Majid, Maulidar Agustina
This study explores the dual benefits of waqf in the context of Islamic life insurance, focusing on the advantages of waqf insurance and investment as stipulated by Fatwa DSN-MUI No. 106/2016. Employing a descriptive qualitative research approach, the study investigation draws from Islamic legal sources including al-Qur'an, al-Hadith, and fiqh rules to analyze waqf's role in Islamic life insurance. The study adopts a multidisciplinary perspective, incorporating usul al-fiqh, fiqh, hadith science, Islamic economics, and the philosophy of Islamic law. It recognizes the ijtihadi nature of waqf, encompassing various forms of ijtihad, and underscores ijtihad's pivotal role in achieving Sharia objectives. The findings emphasize the binding nature of the principles outlined in Fatwa DSN-MUI No.106 of 2016, obligating adherence by individuals seeking the fatwa, Islamic Financial Institutions, and clients. Waqf insurance offers enduring benefits, while waqf investment benefits are influenced by its temporary or perpetual nature. This study underscores the significance of waqf in Islamic finance, emphasizing compliance with the principles set forth in the fatwa for institutional and individual stakeholders. © 2023 IEEE.
Uin Ar-Raniry, Faculty of Islamic Economics and Business, Department of Sharia Economics, Banda Aceh, Indonesia; Universitas Syiah Kuala (USK), Faculty of Economics and Business, Department of Economics, Banda Aceh, Indonesia
Research at a Glance
Register to unlock
Topics & SDG Alignment
Register to unlock
Collaboration
Register to unlock
Author Profile (Selected)
Register to unlock
References Overview
Register to unlock
Journal & Source
Register to unlock
Metadata & Integrity
Register to unlock