Over the years, Takaful has dug its way out of its niche to become a growing and high-demand sector, especially in the Middle East, where the majority of the population is Muslim. The question that has dogged this growth is: has it been driven by religious tenets or by laws, mechanisms, technicalities, investment opportunities, and risk management know-how?
Global Takaful contributions are expected to reach USD 12 billion by the end of this year and USD 25 billion by 2015, according to Ernst & Young’s World Takaful Report 2011 released in July 2011……………………………………….Full Article: Source