La particularité de l'assurance Takaful au regard de l'article 203 bis de l'ordonnance n°07-95

Abstract

The Algerian legislator adopted "Takaful insurance" under Article 203 bis of Ordinance No. 95-07, added to the 2020 Finance Law. This study aims to highlight the unique characteristics of Takaful insurance and distinguish it from conventional commercial insurance by analyzing the aforementioned article. The analysis of Article 203 bis reveals that Takaful insurance is a contractual system characterized by participants' commitment to cooperate and assist one another by funding a mutual fund through financial contributions, essentially as donations, to mitigate insured risks. Furthermore, it adheres to the principles and provisions of Islamic Sharia.