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Morocco approves law on sharia-compliant insurance

RABAT, July 10 (Reuters) - The upper house of Morocco’s parliament on Tuesday approved a law governing Sharia-compliant insurance, known as Takaful, which professionals...

Financial literacy campaigns a boost to the Islamic finance industry

The Islamic financial (IF) institutions in Kenya continue to grow in numbers and outreach. The banking sector is relatively well developed considering the three...

Global Takaful Market Research Report 2019

The Takaful Market report provides valuable and unique information which is very essential. Further it also covers key players, application and future market condition. This information is...

The IFSB Issues Working Paper on Consumer Protection in Takaful

Kuala Lumpur, 17 January 2019 – The Islamic Financial Services Board (IFSB) today issued its ninth research in the Working Paper series which examines...

AAOIFI Shari’ah Standard on Islamic Insurance

This Standard covers Islamic Insurance in terms of its definition, Shari’ah status, characteristics, principles, basic elements, types, and how it differs from Conventional Insurance....

Islamic finance volume to hit $2.5 trillion this year

Islamic finance volume is expected to hit $2.5 trillion this year experts have predicted. This is despite the fact that last year did not prove...

Islamic Insurance (Takaful)

Islamic insurance is a term used for takaful that is a form of insurance based on principles of mutuality and co-operation, encompassing the elements of shared responsibility, joint indemnity, common interest and solidarity

Muhammad bin Ibrahim: Takaful industry at crossroads – a critical examination

Just last year, I addressed the insurance industry. The day after, the newspaper headlines screamed "insurance models broken". And so, I was more than a little surprised to receive an invitation to speak. I could not resist it, and so I accepted.

Financial Retakaful Model based on the Concept of Hibah Bithawab

The Shariah Advisory Council (SAC) of Bank Negara Malaysia at its 188th meeting on 30 October 2018 decided that the Financial Retakaful (FinRe) proposal based on the concept of hibah bithawab (gift with reward in return) between a retakaful operator (RTO) and a takaful operator (TO) is not permissible due to the following reasons:

London’s Islamic insurance body publishes underwriter guidelines

The Islamic Insurance Association of London (IIAL) said on Tuesday it had launched a set of guiding principles covering sharia-compliant insurance, or takaful, seeking to address capacity constraints in the sector.
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