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The Journal of Sharia Fundamentals for Specialized Researches

About the Journal :

The Journal of Sharia Fundamentals for Specialized Researches is published quarterly, it is designed for whoever researcher seeking welfare that is based on knowledge. It seeks to provide a platform for the excellent researchers to present and consider the values and themes of various religious and social sciences acquired by learning and practice. It aimed at becoming a meeting point and channel for researchers to publish their innovative works, with regard to the interpretation of Islamic Sharia sciences and its regulations and the enhancing of social sciences to become adequate programs that serve the human and society in a significant and neutral way.

Our mission is to maintain the efforts of researchers and their innovative works in Islamic Sharia sciences known for its human civilizational value, through which we can spread awareness among people and ensure respect and strength of Islamic identity in different scientific, cultural, and social environments.

Therefore, this journal is designed to serve as a platform to identify the various religious and social dimensions of knowledge, such as considering the Holy Quran as the foremost and fundamental source of Islamic rules followed by the Sunah (biography of the Prophet Mohammed Peace and Blessings be Upon Him) that explains and clarifies the Holy Quran, along with its affiliated Sharia studies on the individual and society, such as studies concerned with Ijtihad which focuses on the studying of modern issues and finding solutions to them.



THE APPLICATIONS OF THE SHARI’AH CONTRACTS REGULATING THE INVESTMENT A STUDY AT AL-RAJHI TAKĀFUL COMPANY

This study aims to analyze the applications of Al-Rajhi Takāful Company for theShari’ah contracts regulating the investment with regard to the insurance fund(takāful/tabarru’ fund). It aims to investigate to what extent its practices and transactions are Shari’ah-compliant by using inductive approach to assess and discuss the views of scholars and researchers with the regard to the issue at hand, and by using analytical approach to analyze and examine their views and theories from the perspective of fiqh (Islamic jurisprudence). Furthermore, it uses empirical approach to examine the role, contributions and the on-ground applications carried out by Al-Rajhi Takāful Company in the field of investment. The study also defines the concept of cooperative insurance, its constituents, features and characteristics. It presents a brief introduction about the Company: founding date, growth, strategies followed to ensure quality insurance services for its participants, activities, and objectives. It also highlights the importance of founding the Shari’ahBoard in the Company. That includes explaining the functions and the role played by such board in following up, monitoring and supervising the transactions of the Company. Most importantly, this study explains the policies of the Company in terms of investment as well as highlighting its objectives. It sheds light on the applications of the Company for the Shari’ah-based contracts in the investment with special focus on wakalah bi al-istithmar (agency contract for investment model) and wudharabah (profit-sharing). all these is to ensure to what extent the said contracts and practices are compliant to the rulings and regulations of the Shari’ah. The findings showed that each of the Agency's investment and speculative contracts has characteristics, characteristics, controls, terms and conditions that the Company must comply with.

Keywords: Shari’ah contracts, Investment, Insurance Fund, Mudharabah Contract