الملخص الإنجليزي
Abstract:
This study aims to analyze the social insurance services available in some GCC countries from a technical, applied, and Sharia perspective. The study focuses on three main services: replacement of salary (pension sale), loans, and purchasing service years. The study aims to evaluate the services provided by social insurance, study their benefits, application mechanisms, and Sharia compliance of their types and forms. It particularly focuses on the Sharia-compliant replacement of salary service that was launched in the Kingdom of Bahrain in October 2023. The researcher used the descriptive-analytical and inductive methods, as well as interviews as a research tool with some banks that offer Sharia-compliant replacement of salary to collect secondary data. At the end of the study, the researcher concluded that the traditional pension sale and loans services are not permissible under Sharia law, while she favored the permissibility of the purchase of service years, except for what includes some prohibited conditions. The researcher presented proposals and recommendations to social insurance institutions to change these services to Sharia-compliant alternatives. She also recommended that Islamic banks in the Kingdom of Bahrain develop the replacement of salary and emphasized that Sharia-compliant social insurance systems are an effective tool for achieving social solidarity and enhancing sustainable development. The responsibility for their development and application lies with all stakeholders.
Keywords: Social insurance, Replacement of salary, Sharia-compliant replacement of salary, Insurance loans, Purchase of virtual service years.
