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11 Takaful

Peter Hodgins, Caroline Jaffer

From: Islamic Finance: Law and Practice

Edited By: Craig R.Nethercott, David M. Eisenberg

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 28 May 2024

Insurance  business — Investment business — Prime broker — Leverage — Claims — Bonds
11.01 Takaful (Islamic insurance) is one of the fastest growing sectors of the global insurance market. From its inception with the incorporation of the Islamic Insurance Company in Sudan in 1979, the takaful market grew to an estimated US$7 billion in 2009.1 Although data is difficult to obtain, one report suggests that there were around 143 takaful operators and thirty-six Windows operating in the sector as at September 2008.2 11.02 Growth has been fastest in the member states of the Gulf Co-operation Council (GCC) and South East Asia (particularly Malaysia)...
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