{"title":"Development of Takaful Industry in Turkey: Challenges and Prospects","authors":"Adem Aman Shibu, M. Kahf","doi":"10.55237/jie.1061660","DOIUrl":"https://doi.org/10.55237/jie.1061660","url":null,"abstract":"Abstract \u0000Takaful|Islamic Insurance industry is rapidly growing across the globe. However, still, the volume of this sector is very small worldwide as well as in Turkey. This study focuses on discussing the size of growth and investment of Islamic Insurance in Turkey. Therefore, the study's central point focus on exploring and examining the development of Islamic Insurance/Takaful industry in the Turkey financial markets at large. Takaful|Islamic insurance in Turkey is known by other names called Participation insurance. In Turkey, both Islamic banking and the insurance industry operating based on shari’ah-complaint is known as participation not Islamic. The Word participation is coming from the Turkish language called “Katılım”, which means participate. Thus, nowadays, in 2020 the market share of the participation|Takaful insurance in production reached 5.2% with approximately 4.3 billion TL. On the other hand, at the end of the same year, 2020, the market share of conventional insurance of life & non-life insurance premium production in Turkey is growing too, 82.5 billion TL. Even though the market share of Takaful seems insignificant when it is compared to the counterpart of convention Insurance the market share of Islamic insurance begins growing from period to period as well.","PeriodicalId":32052,"journal":{"name":"alUqud Journal of Islamic Economics","volume":"20 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80300145","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Historical Islamic Fiscal Solutions in Times of Crises and Its Contemporary Equivalences","authors":"Abdalrhman Khai̇r, Mahmut Bilen","doi":"10.55237/jie.1048837","DOIUrl":"https://doi.org/10.55237/jie.1048837","url":null,"abstract":"The COVID-19 crisis led to a great pressure on the world governments’ fiscal budgets as governments scramble to find new ways to finance and expand social protection and health programs. In order to provide for their populace, many Islamic countries had to pursue loans from international institutions, these loans have been observed to be followed by a phase of austerity that effects the access of the populace into health and education services. In this paper, the researchers seek to put forward a number of fiscal policies to finance the fiscal needs of the countries inside the Organization of Islamic Cooperation (OIC) by utilizing countries’ own internal resources. By surveying the fiscal tools used by past Islamic empires during the times of plague and famine we find that past Islamic empires used different policies that shared a distinctive characteristic, this characteristic is the voluntary and mandatory just redistribution of resources. Based on this concept, the researchers recommend the redistribution of the community resources through the early payment of zakat, extrabudgetary funds, wealth tax and the utilization of excess bank reserves.","PeriodicalId":32052,"journal":{"name":"alUqud Journal of Islamic Economics","volume":"38 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80327738","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}