Global Journal of Economics and Business

Volume 10 - Issue 1 (15) | PP: 211 - 219 Language : English

Discuss developed Islamic insurance models by Jordan Islamic bank

Abdullah Ibrahim Nazal ,
Yahya Abdullah Khassawneh
Received Date Revised Date Accepted Date Publication Date
28/11/2020 7/12/2020 19/12/2020 1/3/2021
This paper aims to discuss Reciprocal Insurance Fund Model (RIFM) and Islamic Insurance Company Model (IICM) which developed by Jordan Islamic Bank. It discusses difference of developing than traditional insurance services based on customers' needs. It depends on discuss annual financial reports in order to analysis the difference between models. The study found that (RIFM) is not owned by customers neither the Jordan Islamic bank. It is an artificial person. (IICM) has small part of insurance surplus to be as customers saving but the other part is artificial person. These models managing risks. It meets the Jordan Islamic bank returns and managing risk. Developing Islamic insurance models is directed to meet the company aims than customers' aims. The main limit of collecting data depended on the annual reports in the Jordan Islamic bank foot notes and Islamic Insurance Company annual reports. It discusses practically applied models by Jordan Islamic bank developing experiences.

How To Cite This Article
Nazal , A. I. & Khassawneh , Y. A. (2021). Discuss developed Islamic insurance models by Jordan Islamic bank . Global Journal of Economics and Business, 10 (1), 211-219, 10.31559/GJEB2021.10.1.15

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