ISSN 2394-5125
 

Research Article 


THE COMPANY FOR COOPERATIVE INSURANCE (TAWUNIYA)- AND ITS INVESTMENT: AN ANALYTICAL STUDY

Basim Mohammed Ali Al-Mabadi, Dr. Asmak binti Ab Rahman, Dr.Abdul Karim Bin Ali.

Abstract
This study aims to investigate the investment of "Tawuniya": how it applies the Shariah-compliant regulating contracts to investment, and how it deals with its own assets in addition to the diversification of investment risks and the challenges the company is faced by. This is due because Cooperative Company is the first official Saudi company in the cooperative insurance market. In other words, insurance activities in Saudi Arabia since the 1970s were concentrated on import and export services and the oil sector and were provided by insurance agents from outside the country. For the fear of being caught up in unlawful transactions prohibited by the Shariah as well as other reasons, insurance was not accepted by most Saudi society until the concept of cooperative insurance was introduced in 1986. The Saudi government contributed to transforming the principle of cooperative insurance into an independent company. " The National Company of Cooperative Insurance (NCCI) ", now known as "The Company for Cooperative Insurance (Tawuniya)" , was established in 1986. The research uses inductive and analytical approaches to study the subject-matter at hand.

Key words: Cooperative insurance, Shariah contracts, Investment, Insurance fund, Mudaradah (profit-sharing model), Wakalah (agency model).


 
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How to Cite this Article
Pubmed Style

Al-Mabadi BMA, Rahman DAbA, Ali DKB. THE COMPANY FOR COOPERATIVE INSURANCE (TAWUNIYA)- AND ITS INVESTMENT: AN ANALYTICAL STUDY. JCR. 2020; 7(16): 3400-3415. doi:10.31838/jcr.07.16.439


Web Style

Al-Mabadi BMA, Rahman DAbA, Ali DKB. THE COMPANY FOR COOPERATIVE INSURANCE (TAWUNIYA)- AND ITS INVESTMENT: AN ANALYTICAL STUDY. http://www.jcreview.com/?mno=137810 [Access: June 01, 2021]. doi:10.31838/jcr.07.16.439


AMA (American Medical Association) Style

Al-Mabadi BMA, Rahman DAbA, Ali DKB. THE COMPANY FOR COOPERATIVE INSURANCE (TAWUNIYA)- AND ITS INVESTMENT: AN ANALYTICAL STUDY. JCR. 2020; 7(16): 3400-3415. doi:10.31838/jcr.07.16.439



Vancouver/ICMJE Style

Al-Mabadi BMA, Rahman DAbA, Ali DKB. THE COMPANY FOR COOPERATIVE INSURANCE (TAWUNIYA)- AND ITS INVESTMENT: AN ANALYTICAL STUDY. JCR. (2020), [cited June 01, 2021]; 7(16): 3400-3415. doi:10.31838/jcr.07.16.439



Harvard Style

Al-Mabadi, B. M. A., Rahman, . D. A. b. A. & Ali, . D. K. B. (2020) THE COMPANY FOR COOPERATIVE INSURANCE (TAWUNIYA)- AND ITS INVESTMENT: AN ANALYTICAL STUDY. JCR, 7 (16), 3400-3415. doi:10.31838/jcr.07.16.439



Turabian Style

Al-Mabadi, Basim Mohammed Ali, Dr. Asmak binti Ab Rahman, and Dr.Abdul Karim Bin Ali. 2020. THE COMPANY FOR COOPERATIVE INSURANCE (TAWUNIYA)- AND ITS INVESTMENT: AN ANALYTICAL STUDY. Journal of Critical Reviews, 7 (16), 3400-3415. doi:10.31838/jcr.07.16.439



Chicago Style

Al-Mabadi, Basim Mohammed Ali, Dr. Asmak binti Ab Rahman, and Dr.Abdul Karim Bin Ali. "THE COMPANY FOR COOPERATIVE INSURANCE (TAWUNIYA)- AND ITS INVESTMENT: AN ANALYTICAL STUDY." Journal of Critical Reviews 7 (2020), 3400-3415. doi:10.31838/jcr.07.16.439



MLA (The Modern Language Association) Style

Al-Mabadi, Basim Mohammed Ali, Dr. Asmak binti Ab Rahman, and Dr.Abdul Karim Bin Ali. "THE COMPANY FOR COOPERATIVE INSURANCE (TAWUNIYA)- AND ITS INVESTMENT: AN ANALYTICAL STUDY." Journal of Critical Reviews 7.16 (2020), 3400-3415. Print. doi:10.31838/jcr.07.16.439



APA (American Psychological Association) Style

Al-Mabadi, B. M. A., Rahman, . D. A. b. A. & Ali, . D. K. B. (2020) THE COMPANY FOR COOPERATIVE INSURANCE (TAWUNIYA)- AND ITS INVESTMENT: AN ANALYTICAL STUDY. Journal of Critical Reviews, 7 (16), 3400-3415. doi:10.31838/jcr.07.16.439