In both of them, there are the thought of sharing the risks they cannot get up over the top of people with others. However, this GENE union does not come to the manner that both contracts are the same. The monarry also said the shopping and interest is the same. But it is obvious that two are different things from each other. When the individual system is created, some contract types of contract are located in the Islamic civilization. The individual has some common aspects that they are not exactly similar to these systems. Because the issue is considered to be useful in terms of better understanding, the individual applies were briefly discussed. The various models of the individual and each model have their specific form of operation. The most commonly used models related to the individual are proxy, mudaneba and the combination of these two models of these two models. In Figure 2, the mode of operation of the Karma Tekapolı model has been shown in a simple manner. The most important principle that separates the individual from the conventional insurance is based on voluntary basis. The ownership of Teberru collected from the participants belongs to the participants. If the system is based on the attorney agreement, the Tekapolı Company is receiving the power of power of power. After the necessary expenditures from the fond of the individual, it is directed to the investment instruments suitable for Islamic procedures. In addition, the amount of funds remaining at the end of the year / period is also distributed to participants according to the agreement or transferred to the year. If mudorebe uses the individual model, the individual company will initially not receive any proxy fee. If only the attorney model is using the investment vehicles, the profit of the car from investment will not receive a share. The mixed method is both profitable and a proxy charge. Figure-2 shows the basic working structure of a mixed individual model. Different models can be developed other than the operating models of the basic individual system tried to summarize in FIG. These models receive their names from the consultations they are installed on them. However, the most used model in the sector consists of proxy, muduebe and mixed models.
1.3. Comparison of individual and conventional insurance The comparison of the individual and conventional insurance in the following table was made in various angles. Although these two systems are considered to see the same function to see the same function, there are also features that are found from the base as can be seen from the table Table – 1: Comparison of the individual and conventional insurance
The legal regulations set for the individual may not differ from the country to the country. In addition, an Islamic counseling board is required.
A balance sheet and two income statements are available. The income of the company and participants is calculated separately. In some countries, AAOIFI standards must be implemented.
Contributions must be transferred to the Retecapular company. However, in the absence of the Retecapular company, islamic jurists allowed to work with conventional reinsurance companies with certain conditions.
2. Insurance-like Applications In Islamic Law, the experts who informed the fetva or the relevant opinion of the insurance related to insurance, show their views as an active implementation of their views in the past in Islamic societies as a basis. The understanding of these two concepts is important in terms of understanding the point of view of Islamic jurists.