| Takaful Industry is growing rapidly around the world with 230 Takaful companies and 13 re-Takaful companies with the total volume of $11 billion. Takaful was started in 2005 in Pakistan when Securities and Exchange Commission of Pakistan (SECP) introduced Takaful rules 2005 according to which only full fledge Takaful companies had the permission to operate and in this regard, 5 Takaful companies came into being due to efforts of investors of Malaysia, Qatar, Kuwait, UAE, Saudi Arabia and Pakistan.
Among these 5 companies, 3 Takaful companies are general whereas 2 companies are providing the services of Shari’ah compliant life insurance...............................................Full Article: Source
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