Takaful


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Takaful

An insurance structure compatible with Islamic law. According to most Muslim jurists, conventional insurance is disallowed, in part because it requires the insurer to gamble on the likelihood of an insured event's occurrence. This uncertainty is not permitted under the sharia.

Under a takaful, subscribers pay a certain amount, which is deposited into a pool of liquidity with other subscribers' contributions. Insured losses are paid out of that pool. In effect, a takaful is a mutual aid society in which the aim is not profit. However, a company may invest the pool of liquidity in sharia-compliant instruments and may keep a management fee. Takafuls have existed in one form or another for most of the history of Islam.
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Summary: MOHAMMAD ALHAWARI, EXECUTIVE BOARD MEMBER & MANAGING DIRECTOR OF TAKAFUL EMARAT INSURANCE (P.
com/research/vrhtc3/global_takaful) has announced the addition of the "Global Takaful Market - Market Research 2015-2019" report to their offering.
Kenya's Insurance Regulatory Authority (IRA) has published its guidelines for the Takaful sector.
Muscat, March 22 (ONA) Legislation regulating OmanaACAOs sharia-compliant insurance market has moved a step closer to being finalized after the State Council approved a draft law that will help encourage new investment in the takaful (Islamic insurance) industry.
KARACHI -- EFU Life Assurance Ltd, the leading life insurance company of Pakistan introduces first Window Takaful Operations licensed by Securities & Exchange Commission of Pakistan.
The Sultanate s first fully-fledged Islamic risk protection provider, Takaful Oman Insurance SAOG has unveiled its first branch office at Nizwa.
Shahid, Chairman, United International Group, appreciated the SECP for its efforts to liberalize rules for insurance sector and said that the new takaful rules will be conducive to the development of a vibrant takaful sector in Pakistan.
GCC gross takaful contribution is estimated to reach around $8.
Top leaders in Takaful industry discussed new strategic imperatives for sustainable growth with profitability on the first day of the World Takaful Conference in Dubai on Monday.
Noor Takaful, the Islamic insurance arm of Noor Investment Group, said recently it has been named aACAyBest Takaful Company in the UAE' at the seventh International Takaful Awards (ITA), a part of the International Takaful Summit.
Reuters -- Kuwait's first Islamic insurer was born 14 years ago, but its takaful firms are still struggling in a crowded market that faces cut-throat competition.
This means that the takaful market in Bahrain has grown 10-fold over the past 10 years, it stated.