Differentiate between conventional insurance and takaful system focusing on the three elements that makes the conventional insurance prohibited under Islam laws.

Course Name: Insurance Accounting
Student’s Name:
Course Code: ACCT 424
Student’s ID Number:
Semester: II
CRN:
Academic Year: 1444/1445 H

For Instructor’s Use only
Instructor’s Name: Habiba Moabber
Students’ Grade: / 15
Level of Marks: High/Middle/Low

Instructions – PLEASE READ THEM CAREFULLY
· The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
· Assignments submitted through email will not be accepted.
· Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
· Students must mention question number clearly in their answer.
· Late submission will NOT be accepted.
· Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
· All answered must be typed using Times New Roman  font. No pictures containing text will be accepted and will be considered plagiarism).
· Submissions without this cover page will NOT be accepted.
Assignment Question(s):
Q1. Visit the following website for SAMA . Summarize its content in your own words and compare it to Insurance Laws you studied the course.
Q2. Differentiate between conventional insurance and takaful system focusing on the three elements that makes the conventional insurance prohibited under Islam laws.
Takaful Insurance
Conventional Insurance

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