Takful Report
From HodHood
Contents
Top 20 FREQUENT WORDS
takaful 39 islamic 16 insurance 7 financial 6 institutions 6 model 5 asia 4 based 4 challenges 4 countries 4 markets 4 operators 4 participants 4 products 4 riba 4 shariah 4 agency 3 arab 3 bedouin 3 business 3 camel 3 companies 3 estimated 3 growth 3 malaysia 3 movement 3 operator 3 risk 3 role 3 sharia 3 specific 3 uncertainty 3 wakalah 3
DOCUMENT KEY POINTS
- it provide provides mutual protection and joint risk sharing in the event of a loss by one of its member
- introduction takaful is the sharia compliant brand name for the islamic alternative to conventional insurance
- from the holly quran i R the need for insurance is shown in the following verse of the quran
- those of you who die and leave widows should bequeath for their widows a year s maintenance and residence
- he asked the bedouin why don t you tie down your camel the bedouin answered i put my trust in allah swt
- from the hadiths i R by anas bin malik one day prophet muhammad pbuh notced a bedouin leaving his camel without tying it
- riba in insurance i R direct riba excess on one side in case of exchange between the amount of premium
- i R indirect riba the interest earned on interest based investments
- the concept of takaful i R taburro contribution from the participants policy holders i R partnership among the participants
- i R need of an operator i R investment in sharia compliant modes
- i R the role of the shariah board is vital in meeting the specific demand of a public who would not insure otherwise
- shariah compliance i R shariah compliance is an essential element in takaful
- i R wakalah model an agency agreement is made between participants and operators on the basis of wakalah agency agreements i R wakalah based on waqf model the participant s donate the fund and operator charge an agency fee
- different models of takaful i R pure mudarabah model the participants and operator enter into modarabah contract
- takaful pioneers i R takaful started some years ago in the middle east with the launching of two companies i R the islamic arab insurance co
- of sudan i R but it took some time for the movement to take shape
- i R this was instrumental in the successful launching of the takaful movement in malaysia and in other countries of south east asia
- takaful pioneers i R later in malaysia played a pioneering role in setting the first legal framework specific to takaful takaful act
- other islamic takaful legislations i R other markets such as the sudan and iran have islamic regulatory environments and became naturally takaful markets
- i R in the gulf countries specific takaful legislations are coming through in bahrain and in saudi arabia
- on average i R world takaful contributions are conservatively estimated at around us billions of which i R general takaful i R family takaful
- takaful premium i R takaful is one of the fastest growing segments in insurance at around pa
- i R a two digit growth in the range of to can be reasonably sustained for at least the next years in the existing markets far and middle east
- billions of which around are based in asia and africa
- conclusions i R despite the challenges facing this new industry exciting times are ahead once the latent potential is unleashed
- i R the success of takaful largely depends on that of islamic financial institutions on a global basis
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
28
Published Date
2016-09-17 01:21:15
