Takaful: Concept and Model by Atiquzzafar Khan

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The balance of the installments is credited intothe PSA as `tabarru' for Sharikah TakafulMalaysia to pay the Takaful benefits to theheir(s) of any participant who may die beforethe maturity of the contract. The amount accumulated in the PA is investedin various business according to Islamicfinancing techniques, and the resultant profitsare divided between the company and theparticipants according to the agreed upon ratio,e.g., 30-70. The participant's share is calculated accordingto their individual share in the PA, and creditedinto their respective accounts, the PA and thePSA.
Mudarabah ModelFamily TakafulProfit AttributedTo ShareholdersCompanyShare ofProfit onS.H. capitalShare ofProfit forMudaribCompany’s Admin& Manag. ExpensesTakaful Contractbased on MudarabahInvestmentProfitParticipantPAFTFPAPayment toThe Family fromPA & PSAPSAPSACost of Re-takafulAnd Other DirectBusiness Expenses
Page 1 and 2: Takaful: Concepts and ModelsByAtiqu
Page 3 and 4: Risk and Insurance:Risk and uncerta
Page 5 and 6: Socio-Economic Benefits of Insuranc
Page 7 and 8: Shariah Position of InsuranceOpinio
Page 9 and 10: Major Arguments AgainstInsuranceAcc
Page 11 and 12: Takaful Pioneers Takaful started so
Page 13 and 14: Other Islamic/ Takaful Legislations
Page 15 and 16: Takaful driversThis movement is dri
Page 17 and 18: Takaful OperatorsThe number of Taka
Page 19 and 20: Takaful Geographical SpreadSouth& E
Page 21: WORKING OF THE TAKAFULBUSINESS: The
Page 25 and 26: In case the Partcipant survivedShou
Page 27 and 28: Shariah Concerns regarding Mudaraba
Page 29 and 30: Wakalah ModelGeneral TakafulCOMPANY
Page 31 and 32: Waqf Model
Page 33 and 34: Cont… Waqif has right to set the
Page 35 and 36: A Waqf Fund would basically be asep
Page 37 and 38: The Challenges ahead Despite a rema
Page 39 and 40: Future OutlookDespite the remarkabl
Page 41 and 42: New Takaful Frontiers Markets like
Page 43 and 44: Conclusions Despite the challenges

Takaful: Concept and Model by Atiquzzafar Khan

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