Sharia insurance: for the first time, Muslims can buy policies in accordance with Islamic law

Salaam Halal insurance provides the same services as conventional companies, but in accordance with Islamic law. This means that it cannot invest in organizations related to gambling, alcohol or pork. This insurance is also not allowed to take financial risks or speculate with income.

Halal insurance-known as takaful - differs from standard products in the UK in that the risk is shared between policyholders. The drivers pay into a fund, which is then invested in a sharia-compliant venture, and all profits are placed back into the fund.

Claims are paid from the accumulated amount, and surplus money is distributed in the form of discounts on premiums for the next year. This is coupled with the usual claim bonus.

My quiet heart: Abdul Khalisadar has bought Syariah police

A committee of three independent Muslim scholars is monitoring the company's activities, saying its premiums are in line with industry averages and that it can rival its big rivals because it is confident of the repeat business of the 600,000 Muslim car owners in the UK.

One of his first customers was Abdul Khalisadar, a father of two from Leyton, East London. The 35-year-old pharmacist, who was driving the BMW, said his heart led him to choose the Salaam Halal policy. But he added, ' It's also competitive.'

Peter Staddon, of the British Insurance Brokers' Association, agrees that the reaction to this protection has been generally positive.

He said, ' I'm excited to see a completely new product on the market.

And I think there will be a lot of people - Muslims and non-Muslims - who want to turn to companies that don't invest in guns, alcohol, or gambling.'

Salaam Halal insurance-which has a holding company with shareholders-is the latest company in the United Kingdom to offer services designed to appeal to Muslims. Some McDonald's outlets now serve halal chicken, while Tesco's larger branches offer a range of halal foods, including chocolate.

So far, the company has targeted the Muslim community through Islamic publications and on billboards. But they hope to attract customers from all religious backgrounds.

The company's head office is in London, and it operates a call centre in Greater Manchester where customers can speak to operators in English, Arabic, Bengali, Gujarati, or Urdu.

CEO Bradley Brandon-Cross said: 'the face of Britain is changing, and it is the responsibility of British institutions to serve that change and welcome diversity.

Lokasi:

Berbagi :