Allianz Indonesia is planning to offer sharia life insurance policies.
You know something is becoming popular, like sharia compliant banking in Indonesia, a pseudo-Islamic country, when businesses and corporations start trying to make a buck from it. Allianz Indonesia, whose site is written in surprisingly bad English, has announced the offering of some "sharia products", namely insurance policies for those who fret about angering Allah and, perhaps, causing more tsunamis by the accumulation of interest.
This reflects our commitment to respond to the need of the Indonesian people.
Said Klaus Voeste, the president director of the Indonesian branch of Allianz AG Holding who probably really meant to say:
This reflects our commitment to making a profit from the Indonesian people.
He said Allianz plans to sell 1,000 Shariah life insurance policies and 2,000 shariah non-life insurance policies in 2006.
I’d never heard of Sharia policies before but now that I read this it’s not very different from home loans with no interest. I’m from the US and a loan without interest just doesn’t exist at any major bank. Foreign sites like this one have more info on this type of finance. Thanks for the info!