Insurance

Corporate Governance is a prerequisite for promotion of growth and competition in the financial services industry. It protects both customers and investors. Takaful provides an Islamic […]

Conventional insurance companies collect premiums from policyholders and assume from them the risks of insured losses. There is always a risk of insolvency for the insurance […]

General Takaful provides protection for non-life matters such as fire, home, automobile, liability, marine, crops, and various business matters. General Takaful contracts are usually one year […]

Muslim jurists and Shari’ah scholars have objected to life insurance schemes as life and death is ordained by Allah and cannot be insured. Further, conventional life […]

The evolution of Takaful is a relatively new phenomenon in Islamic Finance and comparatively less research has been done on this topic. All Takaful business models […]

The Takaful agreement is similar to other standard contracts requiring contracting parties, legal capacities, offer and acceptance, consideration, subject matter, insurable interest, and good faith. However, […]

There was no direct equivalent of insurance in classical Islamic traditions. Since Insurance is about risk mitigation, the scholars had to look for equivalent strategies in […]