Agency in Omani Takaful Insurance

Abstract

Permission for Islamic banking in Oman is recent, and Takaful insurance accompanies banking work, and a study (Agency in Omani Takaful Insurance) presented some of its work to confirm commitment and avoid violation, and it presented the development of Takaful insurance in Oman, then the jurisprudential agency as far as it pertains to the insurance agency, and after that it went on to clarify The agency in Takaful insurance in terms of achieving the constituents of its formation is correct, and among its results: that the formula in the insurance forms did not mention in some of them the power of attorney for a fee and this is a legal breach, and that there is no legal objection to contracting for the benefit of minors the Takaful insurance contract, which establishes the participants’ fund and determines the conditions for contracting with it It is the company before there were participants, and the Takaful insurance models in Oman are devoid of mentioning the agency fee, and the Takaful insurance company mentions the fee on its website and other platforms, or making it available to know it by contact is legally sufficient for the stipulation of each document, and determining the percentage of the agency fee is either From each participant at the time of his participation, or from the total contributions at the end of the year, and the first is permissible.