Investigating the combined model of Mudaraba and Waqalat in Takaful Institution based on Imamiyyah Jurisprudence

Articles in Press

Document Type : Original Article

Authors
seyyed mohammad mahdi tdayyoneslami 1
reza mirzakhani 2
1 imam sadigh university
2 imamsadigh university
10.30497/sj.2026.248557.1484
Abstract
1- Introduction and Objective

Takaful, as an Islamic alternative to conventional insurance, is based on the principles of cooperation and donation and has gained an important position in the Islamic financial system in recent years. Among the operational models of takaful, the combined structure of mudarabah and wakalat is of particular importance due to the combination of the advantages of the two contracts and the removal of the limitations of the individual models.

2- Cases and Methods

This research was conducted using a descriptive-analytical method and using library resources. First, the nature of the two contracts of mudarabah and wakalat is examined and then the mechanism of combining the two in the takaful structure is analyzed.

3- Research Findings

The results show that the combination of Mudarabah and Waqalat creates a synergistic structure that goes beyond the independent characteristics of each contract. The separation of management and investment duties allows for a more efficient distribution of risk and returns. In addition, the use of contractual provisions, reserve funds, and supplementary obligations reduces the challenge of guaranteeing losses.

4- Discussion and Conclusion

This model can be an efficient model for the takaful industry in Iran due to its high flexibility, the possibility of designing diverse products, and the precise regulation of legal relations between the parties. However, its ultimate efficiency requires the development of a specific legal framework, the establishment of a specialized supervisory system, and the strengthening of education and culture in the field of takaful.
Keywords
Hybrid Takaful Model
Wakalah–Mudarabah Takaful Model
Takaful Fund
Takaful Surplus
Imami jurisprudence
Research Letter of Social Jurisprudence (Interdisciplinary Researches in Jurisprudence/ Researches In Jurisprudence)

Articles in Press, Accepted Manuscript
Available Online from 02 June 2026

  • Receive Date 14 July 2025
  • Revise Date 01 June 2026
  • Accept Date 02 June 2026