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Islamic Finance Briefing - Categorized | Emerging Trends, Insurance (Takaful) more

Takaful operators urged to stress unique value of their mutual model

Posted on 05 May 2010

From Insurancenewsnet.com: The unique mutuality principle of takaful, or Islam-based insurance, is the key to promoting new business in light of increasing competition from traditional insurers and a difficult operational environment, according to an Islamic financial services consultant.
In this specialized market segment, customers need to know more about the mutuality concept rather than price, said Ashar Nazim, director of Islamic financial services group at consultancy Ernst & Young. Takaful operators are easily hung up in the competition for price and market share, though the most valuable part of this insurance model is overlooked……………………………………..Full Article: Source

 
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