Dr. Mohammad Hameedullah (1908-2002) was a well known scholar who spent his life in the research on the Quran, Ahadith, life of the prophet and Islamic history. His books and papers on the Islamic history are a valuable asset for the students of the history.Many universities of the Muslim world use his books as a reference.
He translated the Quran in French. Hundreds of Europeans embraced Islam on his hands. After completing his post graduation from Osmania University, Hyderabad in Law (MA, LLB) he completed his doctorate from Germany on International Law and Lived reset of his life in France preaching Islam in Europe.
The following excerpts are taken from his famous “KHUTBAATEÂ BAHAWALPUR” pages 56, 57.
His research establishes the fact that the insurance was practiced in the period of the prophet.
He says :
It is a strange phenomenon that in the olden days the needs of today’s life were not existent. Similarly, the needs of the early days look absurd today, but it is a fact.
In the life of the prophet Mohammad there were two important issues.
1. Â A person was bound to pay the blood money if he had committed a murder undeliberately. The amount of the blood money according to the custom of that time, used to be so high that hardly anyone could afford to pay. It was equal to one hundred camels. The cost of the camels can be imagined by this way :
One camel is good for a full day meal of one hundred persons, so 100 camels will suffice for 100 days, or in other words, one man’s full day meal for 10,000 days. It was too huge ransom to be paid by any ordinary person unless he was the head of the tribe or very rich. These incidents were a routine. Therefore, a collective or cooperative insurance system was established so that the blood money will be paid by the organisation not by the killer alone.
2. Â A person had to pay ransom money (Fidya); if he happened to be captured by the enemy. This act doesn’t exist practically today unless he paid the cost equal to one hundred camels, he had no chance to get free. Practically, he would become a slave at the hands of the enemy. Therefore, the Insurance Company had to play its role to accept the responsibility to pay on his behalf.
The prophet Mohammad established the units of “MUTUAL HELP’Â as todays Insurance in every tribe of Madinah and instructed the units to pay the blood money or ransom on behalf of the person of that tribe if that person was unable to pay. If the unit was in capable to pay the whole amount, it could ask help from other units. If all the units failed to collect the sum required, central government would come forward to help.
This was a special arrangement made by the prophet Mohammad registered in writing in the Constitution. Getting written was an official duty and the constitution of Madinah too was written like Hadith.
Another important task was to rehabilitate the hundreds of migrants (mohajir) from Makhah Al – Mukarramah. The prophet Mohammad rehabilitated them through “MAWAKHAAI (brother hood)” i.e. one native will take one migrant as his brother and take care of his needs until he got settled.
By: Mr. Srinivas Gudi, Bangalore, Published in “The Insurance Timesâ€, February, 2012Â
