Transformation of Commercial Insurance Companies to Islamic Insurance Companies

Mousa Moustufa Al-Qudah, Adam Nouh Al-Qudah

Abstract


This research study seeks to introduce suggestions for the regulation of transformation of commercial insurance companies into Islamic insurance companies, and for that purpose the study included an introduction with three sections, the introduction examined the definition of terms used in the study, while the first section examined, briefly in two separate subsections, the significant aspects of transformation from commercial insurance into Islamic insurance.
The second section examined the most significant transformation motives and the primary steps, the third section examined the impact of transformation on the rights and illegitimate financial obligations in the insurance company in light of the sharia criteria issued by Accounting and Auditing Organization for Islamic Financial Institutions in Bahrain.

Keywords


Islamic Insurance, Takaful. Commercial Insurance, Transformation.

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