Islamic insurance according to standard26 issued by (AAOIFI) and Takaful insurance regulations No. in Iraq for the year2025 AD: A 1contemporary jurisprudential study

Abstract

Islamic insurance represents one of the most important modern financial tools aimed at protecting individuals and communities from financial risks through cooperation and mutual support, in compliance with Shariah principles. This study focuses on AAOIFI Standard (26) and provides a comprehensive examination of the concept of Islamic insurance, its characteristics, types, and the fundamental differences between it and conventional insurance. It also explains the Shariah-based classification, the management of insurance funds, and the investment of its resources. The study highlights practical applications of takaful principles and emphasizes the importance of separating fund assets from the managing company’s assets to ensure justice, transparency, and proper risk management.