Difference between revisions of "Takaful Opperunities and Challenges By Azeem Pirani"

Latest revision as of 04:56, 10 November 2017

Top 20 FREQUENT WORDS

takaful 41 business 15 insurance 13 islamic 11 companies 8 mudarabah 7 pakistan 7 countries 6 losses 6 participants 6 policyholders 6 based 5 contract 5 funds 5 investment 5 loss 5 model 5 shariah 5 banking 4 basis 4 concept 4 contributions 4 conventional 4 expenses 4 fee 4 financial 4 models 4 principle 4 profit 4 wakalah 4

DOCUMENT KEY POINTS

• the contemporary jurists acknowledge that the foundation of shared responsibility or takaful was laid down in the system of a aaqilah which was an arrangement of mutual help or indemnification customary in some tribes at the time of the holy prophet pbuh
• notwithstanding the belief of all muslims in qadha o qadr islam provides that one must find ways and means to avoid such catastrophes and disasters wherever possible and to minimize his or his family s financial losses should such events occur

• the legal framework in other islamic countries normally does not allow this arrangement and takaful companies work as separate entities on the basis of mudarabah as in malaysia and on the basis of wakalah as in the middle east region
• how much of the contribution is meant for mortality liability and how much for investment account is based on a sound technical basis of mortality tables and other actuarial requirements

• as reported in the press pak kuwait investment corporation has recently been allowed by the sec to establish a takaful company in pakistan under the name of first takaful insurance company limited with authorized capital of rs million
• takaful products are available to meet the needs of all sectors of the economy both at individual as well as corporate levels to cater for short and long term financial needs of various groups of the society

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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

3

Published Date

2003-12-10 13:22:03

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