Publication: Takaful Diat: Alternative Compensation Mechanism For Road Accidents In Malaysia (scopus Indexed Journal)
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Date
2019
Authors
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Journal ISSN
Volume Title
Publisher
Blue Eyes Intelligence Engineering & Sciences Publication
Abstract
This paper seeks to assess the suitability of “Takaful Diat” taking over the definition of „aqilah (the group of people who share the blood-money liability of any one among them), and subsequently, becoming the feasible alternative in dealing with the complicated issue of road accidents compensation in Malaysia. The paper opted for a qualitative study where the authors discussed the concept of Diat (blood-money) and Takaful (Islamic insurance) from the opinions of the Muslim scholars from the various schools of thoughts. Based on the current situation, it can be argued that takaful insurance companies are more than capable of being the „aqilah so much so that the paper is convinced that they are the ones who capable of shouldering the responsibility. As such, the government needs to study a mechanism that could make such a contribution compulsory for every individual. Through Takaful Diat, the victims‟ welfare will be safeguarded. Takaful Diat provides protection through a specially designed insurance scheme that pays a victim with a specific amount of compensation which is determined by Syarak.
Description
Volume:8 Issue:2S11
Keywords
Takaful, takaful diat, Islamic insurance, road accidents, compensation, tort, diat, aqilah