التأمين على الديون في المؤسسات المالية بدولة قطر : دراسة فقهية تحليلية نقدية

Abstract

This study examines the origin of one of the most important methods of debt securitization as practised in the modern Islamic financial institutions which is debt insurance. In the onset, the researcher defines the concept of debt insurance and identifies its types. He then proceeds to the discussion on Shari'ah position on debt insurance. Thereafter, he presents the divergent opinions of contemporary scholars on the rule of Islamic Jurisprudence on insurance as a whole, regardless of whether it is commercial/conventional insurance or Islamic insurance. In addition, the study looks into the operational model of two financial institutions in the State of Qatar. The first is the Qatar Islamic Bank while the second is the AL-Dhemeen Programme in the Qatar Development Bank. Both institutions are summarily defined. The researcher also presents the insurance mechanisms of both institutions and then embarks on a critical study of the mechanisms, explaining the difficulties in the implementation and proposing solutions to the problem. The researcher implemented the method of inductive approach while collecting information, legal opinions and evidence on debt insurance and other related matters. He also employed the analytical method for the analysis and evaluation of the legal opinions and the legal views in order to determine the most preferred opinion on each matter. Moreover, he employed comparative method while comparing the legal opinions for the determination of the preferred opinion and the review of previous literature. Thus, this in turn, led to the use of analytical critical methods for the examination of the platform of the implementation of debt insurance in the two financial institutions. Finally, the researcher concluded that insurance of debt is permissible under Shari'ah, subject to its conformity with Shari'ah principles, and that it is an acceptable Shari'ah alternative to commercial/conventional debt insurance. The researcher also proposed the expansion of debt insurance to include insurance on personal and private debts amongst individuals in society, and that it should not be restricted to only Islamic financial institutions. Nevertheless, it must conform to Shari'ah principles on debt insurance. The researcher also discovered a collection of Shari'ah principles that govern debt insurance.