Insurance in the Arab World
Emergence & Development of Insurance in the Arab World
Significant Historical Events
The Arab world is considered the birthplace of the early human civilisations that emerged in the Nile Valley, Mesopotamia and the Levantine. Credit should be given to the people of Mesopotamia for being the first people to introduce legislation as a means of regulating relations between individuals.
Introduction
Since time immemorial, Man's capabilities of thinking, speaking and working have enabled him to meet his basic individual requirements of food, clothing, self-defense and protecting his interests. However with socialisation and development of communities, requirements became more sophisticated. Such requirements resulted in the invention of writing and the discovery of agriculture, industry and commerce. Hence human qualities enabled man to settle down in certain regions, develop communities and establish towns and villages with all the subsequent enactment of laws for regulating social life in various spheres. Archaeologists and other scholars classified man's achievements in all these areas as "civilisation". The Arab world is considered the birthplace of the early human civilisations that emerged in the Nile Valley, Mesopotamia and the Levantine. Credit should be given to the people of Mesopotamia for being the first people to introduce legislation as a means of regulating relations between individuals. Their most famous legislation is the Code of Ouramo which adopted the principle of blood money and compensation. This was followed by the codes of Libit Ashtar and Ashnona which were later succeeded by Hammurabi whose code adopted the legislation of his predecessors and was developed to suit the conditions of the Babylonian society at that time. For more...
Arig Features
- The Origins & Development of Takaful (2004)
- Insurance in the Arab World (2001)
- Ancient Islamic Coins (2000)
- Art of Islamic Architecture (1998)
- Arab Contribution to Math (1997)
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