By Abdullahi Jamaa
Conventional health insurance is a not a practice permissible within the tenets of Islamic jurisprudence as contemporary Muslim scholars continue to raise issues with the Kenyan model of health Insurance.
According to Muslim scholars there is a big difference between the principles and practice of conventional health insurance compared to acceptable Islamic models of business.
Scholar Abdulatif Essajee, a lecturer at school of business-the University of Nairobi spoke on the models of insurance health schemes practiced in Kenya today.
“In Islam you cannot sell uncertainty, you cannot trade in uncertainty” said scholar Essajee while addressing members of Kenya Association of Medical Professionals (KAMMP) at their first international health conference in Mombasa over the weekend.
“First there is Riba (interest) in conventional medical insurance….secondly a large portion of premiums paid to insurance companies are invested in fixed interest securities , they invest in treasury bills, treasury bonds, cooperate bonds and so the income they generate is also from Riba related activities ….and all these are not accepted in Islam” He said
For more watch the video brought to you by ThePlu: Kenya’s Leading Muslim Publication
