Global takaful contributions are forecast to reach $12 billion by the end of 2012, after expanding by an annual average growth rate of 19 percent in the past two years.
Takaful is an Islamic insurance concept, which is grounded in Islamic muamalat (Islamic banking), observing the rules and regulations of Islamic law, otherwise known as Shari’ah. There are an estimated 230 takaful companies and another takaful re-insurer with an estimated $11 billion in volume………………………………………..Full Article: Source