This study aims to analyze and compare the system of sharia life insurance contracts in Indonesia and Malaysia, with a particular focus on regulation and implementation aspects. Sharia life insurance, as an alternative to conventional insurance, is based on Islamic principles that prohibit riba, gharar, and maysir. The research method applied is normative juridical with a comparative approach, through an analysis of legislation, fatwas, and the implementation practices of the sharia insurance industry in both countries. The findings indicate similarities such as the use of the tabarru’ contract and the separation of participants’ funds from company funds. However, differences arise in contract structures, regulatory frameworks, and forms of implementation, which are influenced by each country’s legal system. Malaysia is more advanced in establishing specific regulations and strengthening implementation through takaful, while Indonesia still faces limitations due to the absence of a specific law on sharia insurance. Therefore, this study recommends that Indonesia strengthen its legal framework by enacting a specific regulation on sharia insurance and updating the practice of sharia life insurance contracts to enhance legal certainty and participant protection.

Buku

Sudin Haron, Sistem Kewangan Dan Perbankan Islam, (Kuala Lumpur : Kuala Lumpur Business School SDN BHD, 2005),

Gemala Dewi. Aspek-Aspek Hukum dalam Perbankan & Perasuransian Syariah di Indonesia. Depok, Kencana. 2017.

Soekanto, Soejono, Pengantar Penelitian Hukum, UI-PRESS, Jakarta, 2005

Julianto, Endang Darmawati, Buku Metode Penelitian Praktis

Warkum Sumitro, Asas-Asas Perbankan dan Lembaga-Lembaga terkait BAMUI. Jakarta: PT Grafindo, 2004

Wirdyaningsih, Bank dan Asuransi Islam di Indonesia, cet ke-2. Jakarta: Kencana Prenada Media, 2006

Peraturan Perundangan

Policy Document Takaful Operation Framework Bank Negara Malaysia

Peraturan Otoritas Jasa Keuangan Nomor 69 Tahun 2016

Peraturan Otoritas Jasa Keuangan Nomor 72 Tahun 2016

Fatwa Dewan Syariah Nasional-Majelis Ulama Indonesia, nomor 21/ DSN-MUI/X/2001, tentang Pedoman Umum Asuransi Syariah

Islamic Financial Service Act 2013 Takaful Act 1984

Jurnal

Agustin, Inneke Wahyu. “Perbandingan Pengembangan Asuransi Syariah Di Indonesia Dan Malaysia (Analisis Aliran Mazhab Sejarah Dan Law As a Tool of Social Engineering)”. Al-Ahkam: Jurnal Ilmu Syari’ah Dan Hukum 5 No. 1 (2020) :37-57. https://doi.org/10.22515/alahkam.v5i1.1963.

Haemala Thanasegaran, “Growth of Islamic Insurance (Takaful) in Malaysia : A Model for The Region?”, Singapore Journal of Legal Studies, (2018), h. 143-146.

Hannan, A., & Muzakki, A. (2021). Asuransi (Al-Ta’min) Dalam Pandangan Hukum Islam. At-Turost : Journal of Islamic Studies, 8(1), Article 1. https://doi.org/10.52491/at.v8i1.59

Masse, R. A., & Rusli, M. (2018). Islamic Banking Dispute Resolution in National Sharia Arbitration Board. IOP Conference Series: Earth and Environmental Science, 175(1), 012169. https://doi.org/10.1088/1755-1315/175/1/012169

Ramadhan, Taufiq. “Akad-Akad Dalam Asuransi Syariah”. Sahaja: Journal Sharia and Humanities 1 No. 1 (2022), 45-56. https://doi.org/10.61159/sahaja.v1i1.12.

S. Nurrahimah, Sitti Rabiatul Audia, and Rahman Ambo Masse, “Asuransi Syariah di Indonesia: Perkembangan, Faktor Pendukung, dan Strategi,” Al-Fiqh: Journal of Islamic Studies 1, no. 3 (2023), https://doi.org/10.59996/al-fiqh.v1i3.299

Ulpah, M. Implementasi Akad Tabarru Pada Asuransi Syariah Perspektif Fatwa Dewan Syariah Nasional. Syar’ie : Jurnal Pemikiran Ekonomi Islam, 4 No. 2 (2021). Article 2. https://doi.org/10.51476/syar'ie.v4i2.273

Website

https://axa-mandiri.co.id/-/pengertian-asuransi-syariah diakses pada 27 Juli 2024 Pukul 01.14

https://sikapiuangmu.ojk.go.id/FrontEnd/CMS/Article/10444#:~:text=Asuransi%20syariah%20adalah%20sebuah%20usaha,yang%20sesuai%20dengan%20prinsip%20syariah. (diakses pada 27 November 2023 Pukul 17.59)