Salama insurance : the need of an islamic legal framework

Abstract EN

Many Muslims, for religious convictions are reluctant to take upconventional insurance as it is deemed to have uncertainty, gambling andinterest, which are prohibited by religion.

The purpose of this paper is toexamine Islamic Insurance in Algeria and analyse a suitable regulatoryframework.

One can argue that the trend towards Islamic insurance in Algeriacontributes to raising the level of insurance culture, which will help tomobilize more savings.

After studying the topic, we can provide a roadmap to better regulating the Islamic insurance market because the Islamiccompanies could not function in the ence of an Islamic insurance act.

In the ence of such a framework, regulators often treat Islamicinsurance companies similarly to conventional insurance companies, which hinders the development of Islamic Insurance Industry.