Mutual Aid in Islamic Insurance: A Comparison with Conventional Insurance

This video explains the concept of mutual aid in Islamic insurance (takaful), contrasting it with conventional insurance. It discusses the MUI (Majelis Ulama Indonesia) definition of Islamic insurance, highlighting the use of a Tabarru' fund, where contributions are not owned by the company but by participants for mutual support. The video emphasizes the difference in how claims are paid: from the company's reserves in conventional insurance and from the Tabarru' fund in Islamic insurance, representing risk-sharing among participants.