‘Islamic Banking’ Archives
Takaful- Islamic insurance, Oppurtunity unlimited
Origin of Takaful Originated from the Arabic word Kafalah, which means "guaranteeing each other" or "joint guarantee". Takaful originated within the ancient Arab tribes as a pooled liability that obliged those who committed offences against members of a different tribe to pay compensation to the victims or their heirs. (more...)
Takaful and the Principles of Shariah-compliant Financial Services
The term “Takaful” is derived from the Arabic word “Kafaala” meaning guaranteeing. Takaful means “guaranteeing each other" and refers to the concept of permissible Islamic insurance or “Halal” insurance. (more...)