One small step for Britain; one giant leap for Islam -- or something like that. "First sharia-compliant insurance firm launched," from AFP, July 28:
LONDON (AFP) — Britain's first sharia-compliant insurance company was launched Monday, offering motoring policies in line with the Islamic legal code.Salaam Halal insurance uses Takaful principles, whereby the risk is spread between all policy holders. In contrast, conventional insurance policies shift the risk from the policy holder to the insurance firm.
People taking out a policy with Salaam Halal pay contributions into a pool, with that money then put into sharia-compliant investments -- avoiding companies that are involved in alcohol or pay interest.
The central pool of funds is used to pay any claims that arise, and at the end of the year, if the pool is over-funded, the excess will be distributed back to policyholders through a discount on their next premium.
The policies are aimed at Britain's 1.6 million Muslims, who constitute 2.7 percent of the total population, according to the 2001 census.
"The launch of Salaam insurance -- the first independent, fully sharia-compliant Takaful operator available in this country -- is a significant step for the growth of Islamic finance in the UK," said Abdulaziz Hamad Aljomaih, the chairman of Salaam insurance.
Why so modest, Abdulaziz? The "launch of Salaam insurance" in the UK is "a significant step for the growth of Islam," period.
Yes they will need that as they kill more infidels with their suicide bombers who will pay for their families. While the infidel families will be suffering from the barbaric religion of Islam and their murdering cowards and minions.
They will have to place their money somewhere. With the restricted options, they will achieve a lower performance - sharia compliant insurance will be more expensive.
Market forces will do the rest.
Sharia-compliant -- so, if a woman is beat up by her husband for being a "bad muslim", and has to go to the hospital, will she be able to collect the insurance?
What if a non-muslim woman marries a muslim man, and then he dies? Will she be able to collect the life insurance settlement?
Will a non-muslim be able to get a policy? And if so, will he be able to collect when he is due a settlement?
It never ceases to amaze me that in our enlightened Western culture, we open the door to these 7th century barbarians.
One other thing: if it's sharia-compliant, does that mean that the local imam gets to decide whether or not they pay out on insurance claims?
I'll bet that if you have a claim, you'll have to get the local imam to sign your claim form in order for them to honor it.
Sorry about all the posts, but here's another one: I'll bet that the local imam will receive "honoraria" from the sharia-compliant insurance company, insuring a cozy relationship between the two, and insuring that they have yet another way to keep all the muslims in line.
But sharia based insurance in fine--in the desert. They could have multi-camel discounts.
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Allah be Praised
Allie OOP OOP 2
They had better read the fine print when it comes to exploding cars
Good luck on collecting if you ever have a claim. Remember, Islam is a one way street. The money come in but it don't go out. ; )
This should be seen by as many people as possible. I am putting it here, and elsewhere, hoping that many will see it, and many will send it on, so it may spread throughout the Internet:
http://www.memritv.org/clip/en/1821.htm
I'd be delighted if all muslims took up policies with this company and left my insurance company alone.
And if a claim against this group is larger than the amount they have at hand?
Later
Albert
'Shariah compliant' insurance? Yet another case of the very un-islamic 'bi'dah', or innovation: since when is there any concept of insurance in Islam? The only insurance in Islam is that if one dies in the 'jihad fi sabillah', they get their 72, or however many virgins in janaab. How exactly would any insurance company guarantee that?
This is a bit rich given the view of a lot of mullahs that insurance is an attempt to avoid the judgement of allah therefore a form of blasphemy.
I was advised by a (black) woman living in a muslim area that it was normal for “Asians” to have only one motor insurance policy for the whole family to use as necessary. But the word is the Companies have got wise to this and have introduced countermeasures.
There are reported cases of “Asians” reversing into stationary cars in traffic to claim insurance and a close relative was rammed on a supermarket car park by a car containing 4 “Asian” men. In her late 50’s and all of 5’0” tall she was more than a little intimidated when they got on their mobiles and called up another 4-6 men for back up. Enough to say with all those “witnesses” she had no chance and it cost her £3,000 ($6,000) and a lost no claims bonus.
Working in an “Asian” area I surprised two “Asians” driving their cars slowly into each other to form the basis of a claim. While I on another occasion an “Asian” got a £1,000 for stolen TV and audio equipment – there was nothing but timber and cement in the house at the time but he still got the money.
I my experience they see insurance as just another way to screw the kuffur so if they want to set up their own shiria company they are doing us a favour.
So... If you're a Muslim cab driver, and you dump your two murdered daughters in your cab, before fleeing the country, will your wife be able to collect on a claim for the blood soaked upholstery?
So... If you're a Muslim cab driver, and you dump your two murdered daughters in your cab, before fleeing the country, will your wife be able to collect on a claim for the blood soaked upholstery?
Posted by: Abscedere at July 28, 2008 6:57 PM
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Or for repairing the bullet holes in the side of the car...
Or for the plane ticket to quickly get out of the country. I'll bet they will pay for that, because, after all, we wouldn't want some free-thinking teenage girl bringing "dishonor" on the family -- it would be "un-islamic". The guilty party can probably file for a claim in Occupied Egypt, Occupied Pakistan, or wherever it is he flees to.
Can we get all Muslims to contribute to an insurance fund which pays out to non-Muslim victims of Muslim atrocities and their families?
Can we also use the fund to compensate non-Muslims who have been inconvenienced as a result of security measures introduced to counter the threat of Muslim terrorism - e.g. not being able to take drinks onto aircraft?
Can we also use the fund to compensate non-Muslims who have been inconvenienced as a result of roadblocks and miscellaneous other disruptions to their travel plans which have been caused by Muslim terrorism?
Can we also use the fund to pay for the trials of Muslim terror and honour-killing suspects?
Can we also use the fund to pay for the protection of non-Muslims who have received death threats - e.g. Salman Rushdie, Ayaan Hirsi Ali and Geert Wilders?
Can we also use the fund to compensate non-Muslims who have a mosque on their street?
Can we also use the fund to compensate non-Muslims who have to listen to Muslims such as Anjem Chaudary or Dr Bari sounding off in the media.
Can we also use the fund to compensate non-Muslims who are enraged by the fact that we can't deport Muslims who are an obvious threat to our security?
Can we also use the fund to pay for the costs incurred by Muslim prisoners (about £30,000 per annum each)?
Hopefully we can make the premium so high that Muslims can't afford to live in non-Muslim lands.
Of course we'll need a word for the insurance premium. How about FU-ya?