Document Type : Original Article
Authors
1
M.A. Graduate in Jurisprudence and the Foundations of Islamic Law, Department of Jurisprudence and the Foundations of Islamic Law, Faculty of Theology, Islamic Studies and Guidance, Imam Sadiq University, Tehran, Iran. (Corresponding Author).
2
Assistant Professor, Department of Jurisprudence and the Foundations of Islamic Law, Faculty of Theology, Islamic Studies and Guidance, Imam Sadiq University, Tehran, Iran.
Abstract
1. Introduction and Objective
Takaful, as an Islamic alternative to conventional insurance, is based on the principles of cooperation (taʿāwun) and donation (tabarruʿ), and has gained significant importance in the Islamic financial system in recent years. Among Takaful operational models, the hybrid structure of Mudarabah and Wakalah holds special significance due to combining the advantages of both contracts and addressing the limitations of individual models. This study aims to analyze the impact of this combination on the structure and function of Takaful and to identify its unique features, which are not attainable in pure Mudarabah or pure Wakalah models.
2. Methods and Materials
This research is conducted using a descriptive–analytical method based on library research. First, the nature and mechanism of combining the two contracts of Mudarabah and Wakalah within the Takaful structure are examined; subsequently, the foundations of this model are evaluated, citing sources from Imami jurisprudence and Iranian legal regulations.
3. Research Findings
The results demonstrate that the combination of Mudarabah and Wakalah creates a synergistic structure that transcends the independent characteristics of each contract. Separating managerial and investment duties enables more efficient distribution of risk and returns. Furthermore, the use of ancillary contract terms, reserve funds, and supplementary obligations mitigates the challenge of liability for losses. The jurisprudential analysis also confirms the legitimacy of this model based on principles such as the presumption of validity (aṣālat al-ṣiḥḥah), domination (taslīṭ), and freedom of contract.
4. Discussion and Conclusion
Due to its high flexibility, the ability to design diverse products, and the precise regulation of legal relationships between parties, the hybrid model can serve as an efficient model for the Takaful industry in Iran. However, its ultimate efficacy requires the formulation of a clear legal framework, the establishment of a specialized regulatory system, and the promotion of education and awareness in the field of Takaful.
Keywords
