Co-Operative Insurance and Takaful
From HodHood
Contents
Top 20 FREQUENT WORDS
cooperative 26 takaful 22 insurance 18 mutual 16 muslim 14 countries 10 principles 7 sector 7 microinsurance 6 population 6 financial 5 islamic 5 model 5 products 5 providing 5 reinsurance 5 social 5 community 4 cooperation 4 council 4 development 4 education 4 insurers 4 joint 4 member 4 members 4 policyholders 4 possibilities 4 poverty 4 responsibility 4 source 4 surplus 4 technical 4
DOCUMENT KEY POINTS
- cooperative definition a cooperative is an autonomous association of persons united voluntarily to meet their common economic social and cultural needs and aspirations through a jointly owned and democratically controlled enterprise
- source international cooperative alliance ica
- very rough europe importance of mutual insurance sector estimates percentage of gross direct domestic premium a cmut coop joint stock written a cmut joint stock finland luxembourg a ccoop joint stock sweden netherlands france belgium germany uk austria italy slovenia ireland spain hungary czech rep
- denmark mutual and cooperative insurers mutual insurers controlled by mutual holding except luxembourg and ireland domestic and foreign source national supervisory authorities industry associates company websites annual reports aisam and acme analysis
- technical cooperation a c industry development a c takaful companies are members icmif a c takaful network a c takaful xchange a c policyholder participation a c disseminating information www dot icmif
- org takaful
- million netherlands germany million uk million
- takaful in non muslim countries is there a need country est
- ruling by the european council of fatwa and research a it is well known that in most non islamic countries there are cooperative and mutual insurance companies
- so it is unlawful for a muslim living in a country where there is such a cooperative insurance company to make an agreement with a commercial insurance companya
- the possibilities in non muslim countries there is a growing awareness and demand for islamic financial instruments including insurance in non muslim countries
- in particular the shari ah ruling presents an opportunity for cooperative and mutual insurers to penetrate this niche market with minimal costs
- the similarities in principles with the established cooperative and mutual insurance sector provides an opportunity for cooperation which will benefit existing and potential policyholders in the muslim world
- conclusion the takaful sector is experiencing phenomenal growth and is facing a multitude of challenges and issues in its present development cycle
Please note, This is an auto generated summary based on sentances position in the document and other factors
DOCUMENT WORD ANALYSIS
Main Category
- AlHuda Material\takaful
KeyWords
taka islam insur malaysia productdeferred shariah countries muslim financial retakaful model growth custom partner developed service mutual bankable provided scheme
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DOCUMENT REFERENCES
Number of Pages
40
Published Date
2016-09-17 01:17:34
