TAKAFUL AL-IJTIMA'I IN ISLAM: A COMPARATIVE STUDY WITH CONTEMPORARY ECONOMIC SYSTEMS

Abstract

The concept of takaful al-ijtima'i (social solidarity) holds immense significance, particularly during times of adversity, pandemics, and crises. Islam emphasizes the importance of cooperation, solidarity, and unity among Muslims, considering them as a collective entity where the well-being of each member is interconnected. The global impact of the COVID-19 pandemic serves as a stark reminder of the devastating consequences on countries, economies, businesses, and individuals, leading to extensive job losses and necessitating massive stimulus packages to support companies, institutions, and families. This study aims to explore the concept of solidarity and social security from a legal perspective, drawing a comparison between the teachings of Islam and contemporary economic systems. Social security within positive economies, be they socialist or capitalist, differs in several aspects from the Islamic economy. In positive economies, social security is human-made and primarily focuses on the material aspect, relying on legal obligations rather than the conscience, mercy, and generosity of individuals. It is often limited to enrolled individuals or groups who meet specific criteria, and it comes at a cost, funded by taxes that often exceed the benefits provided. In contrast, Islam guarantees support and assistance to the needy from the treasury without requiring them to work for it, particularly if they are physically or mentally incapable. The provision of financial aid is derived from obligatory contributions such as zakat (charitable giving), alms, and donations. Needy individuals in Islam receive financial assistance with dignity, without facing humiliation or indignation, ensuring their needs are met-a defining characteristic of the Islamic approach. By examining the contrasting approaches to social security, this research aims to shed light on the unique features and advantages of the Islamic economic system. It delves into the compassionate and inclusive nature of Islamic social security, which prioritizes the well-being and dignity of individuals in need, while also considering the broader societal benefits of fostering solidarity and cooperation among Muslims. The findings of this study contribute to a deeper understanding of the Islamic perspective on social security and its potential implications for contemporary economic models, promoting equitable and compassionate approaches to address societal challenges.