Understanding Takaful: Ethical and Fair Islamic Insurance

This Note examines takaful, a Sharia-compliant mechanism for insuring certain losses, and its similarities to, and differences with, conventional insurance and insurance products. This Note also discusses the parties involved in a takaful transaction and the structures typically used to implement and document a takaful transaction.

Ajmal Bhatty, President and CEO of Tokio Marine Middle East


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