A Study on the Implementation of Dual Contracts of Tabarru’ and Tijarah on Shari’ah Insurance Industries in Indonesia

Irkhami, Nafis

doi:10.12816/0051020

Cited by 2 publications

(2 citation statements)

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“…This study uses the Data Envelopment Analysis (DEA) method. DEA is a linear program application technique that measures the relative efficiency of each production unit compared to other production units that have the same goal (Irkhami, 2017). The production unit used in this method is called the Decision-Making Unit (DMU).…”

Section: Research Methods and Data Analysis Techniquesmentioning

confidence: 99%

Does Islamic More Efficient Than Conventional Life Insurance Performance During 2014-2021?

2022

Performance Jurnal Personalia Financial Operasional Marketing Dan Sistem Informasi

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The research aims to analyze and comparisons of the efficiency of islamic and conventional life insurance in Indonesia. The research method uses a quantitative Data Envelopment Analysis (DEA) non-parametric approach to an assumption of Constant Return to Scale (CRS) and Variable Return to Scale (VRS) with input-output orientation. The sample used is three islamic life insurance and three conventional life insurance, which the sample criteria specified during 2014-2021. The input variables used are commissive costs, operating costs, and total equity, while the output variables are premium and investment income. The research results show that the economic efficiency value of Conventional Life Insurance is 64.82 percent, the technical efficiency is 72.22 percent, and the efficiency scale is 81.4 percent. While in Islamic Life Insurance, the economic efficiency value is 17.26 percent, the technical efficiency was 53.71 percent, and the efficiency scale was 47.41 percent. The different factors of efficiency level between conventional life insurance companies and islamic life insurance companies are the consumer's ease of use of the insurance products supported by optimal input to output management. The results of this research must be the main topic by islamic life insurance companies in planning the economic efficiency values and the company's technical operations in the future.

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Section: Research Methods and Data Analysis Techniquesmentioning

confidence: 99%

Does Islamic More Efficient Than Conventional Life Insurance Performance During 2014-2021?

2022

Performance Jurnal Personalia Financial Operasional Marketing Dan Sistem Informasi

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“…So, the basic principle in Islamic insurance is not transferring risk as practiced in conventional insurance, but instead sharing the risk of fellow insurance participants [22,[34][35][36]. Tabarru' (seeking blessing) is an agreement that is a transaction that is not intended to obtain profit/non-profit transactions (non-profit oriented) [37][38][39]. This transaction aims to help do good (tabarru' comes from the word birr in Arabic, which means goodness).…”

Section: Guarantee Riskmentioning

confidence: 99%

Design of Islamic Agricultural Insurance Model: Evidence from Indonesia

Yusuf¹,

Fadhil²,

Bahri³

et al. 2022

IJSDP

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The agricultural sector is a role model that can be the basis for policymakers to integrate Islamic insurance patterns in agriculture. This research aims to design a model of the Islamic agricultural insurance system based on Islamic law in the context of Indonesia. This study is expected to contribute for Indonesian government to accommodate the implementation of the Islamic agricultural insurance system and pattern in Indonesia. This study used an expert system approach through data collection and information as a reference in the formulation of model designs, including interviews, questionnaires, direct observation, and data synthesis in the field. This research stage used a systems development conceptual model described in the research process, including planning, analysis, design, verification, validation, and building models. The research hypothesis is confirmed that Islamic agricultural insurance can be implemented based on risk and investment with tabarru’ funds (mutual financial aid funds) and investment funds. Islamic agricultural insurance is a way out for farmers, especially Muslim farmers, in ensuring agriculture management by managing the level of risk due to crop failure. Islamic agricultural insurance systems can guarantee risks that arise in agricultural businesses to provide inner peace to farmers in getting the good and right protection for businesses that run following Islamic principles. This research has resulted in innovative features and development models of Islamic agricultural insurance for the Protection and Empowerment of Farmers in Indonesia.

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A Study on the Implementation of Dual Contracts of Tabarru’ and Tijarah on Shari’ah Insurance Industries in Indonesia

Cited by 2 publications

References 0 publications

Does Islamic More Efficient Than Conventional Life Insurance Performance During 2014-2021?

Does Islamic More Efficient Than Conventional Life Insurance Performance During 2014-2021?

Design of Islamic Agricultural Insurance Model: Evidence from Indonesia

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