| Takaful, the Islamic alternative of insurance, is a scheme based on the principles of mutual assistance in compliance with the provisions of Islamic shariah, and which provides for mutual financial aid and assistance to the participants in case of occurrence of certain contingencies and whereby the participants mutually agree to contribute to the common fund for that purpose.
The existing Takaful Rules were issued in year 2005. During the course of business activity and implementation of these rules, a number of practical issues were highlighted by the stakeholders...............................................Full Article: Source
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