Islamic insurance (Takaful) and Islamic Banking is flourishing all around the world. Global market size of Takaful has reached to $12 billion and Islamic Takaful institutions have exceeded to 350.
Muhammad Zubair Mughal Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics (CIBE) said though Takaful industry was prospering in the recent times, however it was also facing certain challenges which included issues regarding re-Takaful, regulatory challenges, competition and lack of human capital………………………………………..Full Article: Source