From Reactionsnet.com: Takaful – the Islamic alternative to conventional insurance – represents a radical new insurance business model that is firing a potentially very big emerging market in the Middle East. But although it is a genuine alternative to the familiar product, takaful companies face many of the same challenges besetting their western counterparts.
Heightened competition is one of the biggest challenges facing insurance companies around the world, for example – and takaful firms operate in the same market conditions as conventional insurance companies, says Peter Hodgins, Dubai-based partner with the law firm Clyde & Co……………………………………….Full Article: Source