2022
DOI: 10.18280/ijsdp.170804
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Design of Islamic Agricultural Insurance Model: Evidence from Indonesia

Abstract: 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 informatio… Show more

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Cited by 4 publications
(4 citation statements)
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“…Meanwhile, in Indonesia and Malaysia, Sharia insurance does not only include life insurance products but also other products. For example, Islamic agricultural insurance has been offered to farmers [53,54]. This is Overall, based on the countries in Figure 4, there is already a Sharia insurance industry.…”
Section: Sharia Insurance Risk Managementmentioning
confidence: 99%
See 1 more Smart Citation
“…Meanwhile, in Indonesia and Malaysia, Sharia insurance does not only include life insurance products but also other products. For example, Islamic agricultural insurance has been offered to farmers [53,54]. This is Overall, based on the countries in Figure 4, there is already a Sharia insurance industry.…”
Section: Sharia Insurance Risk Managementmentioning
confidence: 99%
“…Meanwhile, in Indonesia and Malaysia, Sharia insurance does not only include life insurance products but also other products. For example, Islamic agricultural insurance has been offered to farmers [53,54]. This is also true in other Islamic countries that have implemented Sharia insurance, such as Brunei Darussalam, Qatar, Bahrain, Kuwait, Oman, and other Islamic countries.…”
Section: Sharia Insurance Risk Managementmentioning
confidence: 99%
“…The strategic development and optimization of agricultural financial strategies, acting as a vital intermediary between agricultural production and market demand, are identified as instrumental in driving the trade efficiency of agricultural products (Qian and Olsen, 2021). However, the inherent seasonal and regional characteristics of agricultural production, compounded by market uncertainties and environmental concerns, such as water quality and health risks associated with agricultural inputs (Mohammadpour et al, 2024a(Mohammadpour et al, , 2024b, render traditional financial strategies inadequately equipped to address the distinct requisites of agricultural trade (Bai et al, 2023;Yusuf et al, 2022;Zhao et al, 2023). The advent of machine learning technologies heralds a new era, offering innovative perspectives and tools for the meticulous prediction and optimization of agricultural financial strategies, thereby enabling a more scientific and efficacious approach to strategy formulation (Sarkar et al, 2023).…”
Section: Introductionmentioning
confidence: 99%
“…In the European Union, various member states adopt distinct agricultural insurance systems due to varying risks depending on the country. Particularly, agricultural insurance in France has expanded following the reforms of 2004, covering over 60% of the agricultural land, which is more than 80% in Germany; and on a global scale, it is asserted that Latin America's agricultural insurance sector is relatively well-developed in contrast to regions like Africa and numerous Asian nations; although in India, extensive agricultural insurances based on weather conditions were developed (Vilhelm et al, 2015;Yusuf et al, 2022). Furthermore, in the pursuit of facilitating the establishment of sustainable and cost-effective agricultural insurance programs, the World Bank endorses a country-based agricultural insurance framework, which is rooted in corporate risk management principles and extends to considerations of economic and social dimensions, including the government's fiscal resilience and the welfare of vulnerable communities (Mahul & Stutley, 2010).…”
Section: Introductionmentioning
confidence: 99%