Titlebook: Introduction to Takaful; Theory and Practice Adnan Malik,Karim Ullah Book 2019 The Editor(s) (if applicable) and The Author(s), under exclu

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Insurance,s a mechanism that enables companies to perform three important functions: to transfer risk, create a common pool and set equitable premiums. These important functions create four main benefits: peace of mind, control of loss, social benefits and economic benefits. Insurance is a well-established bu

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Takaful and Its Shariah Compliance, Islam. The recent practice of takaful emerged in 1979, and there are now more than 300 takaful operators across the globe. Takaful is a contract of tabarru, while conventional insurance is a sale and purchase transaction. The objections to riba al Hadith, maysir and gharar are valid when a contract

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Takaful Models,-profit. The non-profit category includes the tawuni (cooperative) model, in which the takaful operator does not get anything in return for providing its services. In for-profit models, the takaful operator can earn a fee or a profit share (or both) in return for the services it provides. For-profit

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Re-takaful,odels for their operations. Takaful companies arrange re-takaful for increasing their underwriting and claim-paying capacities. There are two broad types of re-takaful agreements, namely, facultative and treaty re-takaful, which have further subtypes including proportional and non-proportional.

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Distribution Channels,mpanies explore all the available distribution channels for reaching out to potential clients. Traditionally, full-time exclusive agents marketed the products of a single company. Over time, independent agents and brokers entered the market, advising clients on the most suitable products available f

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