INSURANCE UNDER NIGERIAN STATUTES: THE ISLAMIC LAW ALTERNATIVE

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dc.contributor.authorABDULRAHMAN, Muhammed Muritala
dc.date.accessioned2019-02-04T15:24:29Z
dc.date.available2019-02-04T15:24:29Z
dc.date.issued2018-01
dc.descriptionA THESIS SUBMITTED TO THE SCHOOL OF POSTGRADUATE STUDIES, AHMADU BELLO UNIVERSITY, ZARIA IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTER OF LAWS DEGREE - LL.M DEPARTMENT OF ISLAMIC LAW, FACULTY OF LAW, AHMADU BELLO UNIVERSITY, ZARIA, NIGERIAen_US
dc.description.abstractInsurance scheme is put in place to fall back on in the event of risk or calamity occurrence. Nigerian Statutes require that every motor vehicle owner must possess at least third party insurance policy. However, the conventional insurance contradicts certain elements of Islamic law which make it unlawful and unacceptable. Thus, majority of Muslims (believers) and other adherents have refused to adopt the conventional insurance and subsequently, called for alternative shariah compliant products. Consequently, this research work discusses essentials elements, formation and operation of insurance scheme with specific emphasis on motor vehicle insurance scheme under Nigerian statutes and Islamic law alternative, differences and thereafter considers the relevant provisions in new Takaful Guideline, identifies challenges therein. In the final analysis, observes that there is lack of awareness on the part of public about insurance generally and Islamic alternative (takaaful) specifically and finally recommends inter alia that: NAIOCM should relax some of the stringent conditions/requirements to allow more takaaful companies to come up, intensifies effort to curb use of fake insurance papers and inject sanity into the industry and that co-operative insurance be adopted as means of promoting insurance scheme among association members.en_US
dc.identifier.urihttp://hdl.handle.net/123456789/11219
dc.language.isoenen_US
dc.subjectINSURANCE,en_US
dc.subjectNIGERIAN STATUTES,en_US
dc.subjectISLAMIC LAW ALTERNATIVEen_US
dc.titleINSURANCE UNDER NIGERIAN STATUTES: THE ISLAMIC LAW ALTERNATIVEen_US
dc.typeThesisen_US
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