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Takaful insurance - A new dawn for the takaful market.
(From Reinsurance)
Byline: Jeremy Golden.
Until recently, takaful - insurance based on Islamic principles - was seen by many in non-Islamic countries as a type of business unlikely to yield significant profits and with little relevance to the mainstream of international (re)insurance. However, with the rapid growth of the insurance market in the Middle East, and other countries with large Muslim populations, especially in Malaysia, takaful and its reinsurance equivalent, known as retakaful, has started to be taken seriously.
The increasing level of international interest is underlined by a new retakaful scheme set up jointly by the FWU Group and ...
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