The SAC, in its 41st meeting dated 8 March 2004 and 43rd meeting dated 29 April 2004, has resolved the following:

i. For an Islamic financing package which does not include an amount of contribution for coverage, the Islamic financial institution shall offer a takaful plan as the first option to the customer who applied for the Islamic financing that requires coverage.72 If the customer refused the takaful plan on particular reasons, the customer may choose any conventional insurance as he wished. Such an exemption is only given in consideration of the following factors:

• If the insurance premium is totally borne by the customer;
• If there is a sector or specific class in insurance whereby takaful has no expertise; or
• The customer’s application was rejected by takaful company on certain grounds.

ii. For an Islamic financing package that includes the amount for contribution of coverage, the Islamic financial institution shall ensure that only takaful plan is used to cover such Islamic financing. Conventional insurance premium shall not be included in Islamic financing package; and

iii. If a customer who has taken a conventional insurance coverage for an Islamic financing passes away or suffers any kind of peril that results in his inability to pay for the financing, the Islamic financial institution is entitled to receive compensation from the conventional insurance.

-Reference: Shariah Resolutions in Islamic Finance (2^nd edition), BNM, http://www.islamicfinance.com/wp-content/uploads/2015/01/Shariah-Resolutions-2nd-Edition-En.pdf

Perlindungan Takaful bagi Pembiayaan secara Islam

MPS pada mesyuarat ke-41 bertarikh 8 Mac 2004 dan mesyuarat ke-43 bertarikh 29 April 2004 telah memutuskan perkara berikut:

i. Bagi pakej pembiayaan secara Islam yang tidak merangkumi amaun caruman perlindungan, institusi kewangan Islamhendaklah menawarkan pelan takaful sebagai pilihan pertama kepada pelanggan yang memohon untuk mendapatkan pembiayaan secara Islam yang memerlukan perlindungan. 72 Sekiranya pelanggan menolak pelan takaful atas sebabsebab tertentu, pelanggan boleh memilih mana-mana insurans konvensional yang dikehendakinya. Pengecualian ini hanya diberikan kerana mengambil kira faktor berikut:

• Sekiranya premium insurans tersebut ditanggung sepenuhnya oleh pelanggan;
• Terdapat sektor atau kelas tertentu dalam insurans yang takaful tidak mempunyai kepakaran sepenuhnya; atau
• Permohonan pelanggan tidak diterima oleh syarikat takaful atas sebab-sebab tertentu.

ii. Bagi pakej pembiayaan secara Islam yang merangkumi amaun caruman perlindungan, institusi kewangan Islam hendaklah memastikan bahawa hanya pelan takaful digunakan bagi melindungi pembiayaan secara Islam tersebut. Premium insurans konvensional tidak boleh dimasukkan sebagai sebahagian daripada pakej pembiayaan secara Islam; dan

iii. Sekiranya pelanggan yang mengambil perlindungan insurans konvensional bagi melindungi pembiayaan secara Islam meninggal dunia atau mengalami musibah yang mengakibatkannya tidak dapat membuat pembayaran pembiayaan, institusi kewangan Islam berhak menerima pampasan insurans konvensional berkenaan.

-Reference: Shariah Resolutions in Islamic Finance (2^nd edition), BNM, http://www.islamicfinance.com/wp-content/uploads/2015/01/Shariah-Resolutions-2nd-Edition-En.pdf