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Takaful ( Arabic: التكافل, sometimes translated as "solidarity" or mutual guarantee) [1] is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic or sharia -compliant alternative to conventional insurance, which contains riba (usury) and gharar (excessive uncertainty). [2]
Takaful, sometimes called "Islamic insurance", differs from conventional insurance in that it is based on mutuality so that the risk is borne by all the insured rather than by the insurance company. Rather than paying premiums to a company, the insured contribute to a pooled fund overseen by a manager, and they receive any profits from the fund ...
Takaful, sometimes called "Islamic insurance", differs from conventional insurance in that it is based on mutuality so that the risk is borne by all the insured rather than by the insurance company. Rather than paying premiums to a company, the insured contribute to a pooled fund overseen by a manager, and they receive any profits from the fund ...
Osman Kassim introduced Islamic Banking concept in Sri Lanka and was instrumental in pioneering the concept of Islamic finance in Sri Lanka. [citation needed] He has remarkable experience of over four decades of senior management experience in Islamic banking and Islamic Takaful insurance.
Website. www .watania .ae. National Takaful Company (Watania) PJSC ( Arabic: وطنية للتكافل) is a takaful company based in Abu Dhabi, United Arab Emirates . The company was created in 2011 by Abu Dhabi National Islamic Finance, Abu Dhabi National Insurance Company, TAQA and Aldar Properties. [4] These founding investors floated ...
Takaful Malaysia was established on 29 November 1984 when the Government of Malaysia set up a task force to study the feasibility of establishing an Islamic insurance company in Malaysia. The incorporation of Takaful Malaysia as the first takaful operator in the country was in the same year as the Takaful Act was enacted.
Website. www .takaful .ae. Abu Dhabi National Takaful Company PSC ( Arabic: شركة أبوظبي الوطنية للتكافل ش.م.ع.) -- known simply as Takaful, تكافل, or ADNTC -- was established in 2003 [2] by the Abu Dhabi Islamic Bank (ADIB) and Abu Dhabi Investment Company. [3] It is a powerful player in the UAE takaful market [4 ...
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