By Abdul Azim Islahi
Abstract
Dr. Muhammad Hamidullah (1908-2003) on mutuality based Islamic Insurance is well-known for discovery, editing and bringing to light a number of rare and invaluable Islamic manuscripts. A significant aspect of his contribution is his pioneering writings on Islamic Economics. He authored more than a dozen essays related to Islamic economics. He is the first to use this term as early as 1936 in his work “Islam’s Solution to the Basic Economic Problems – the Position of Labour”. He is also a pioneer writer on mutuality-based Islamic insurance, now known as ‘takāful’. After surveying the development of Islamic insurance, the present paper studies and evaluates Dr Hamidullah’s contribution to mutuality-based insurance.
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