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THE INVESTMENT INITIATIVE IN TAKÓFUL: ISSUES AND CHALLENGES

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Tanggal Publikasi: 1 Jan 2012

Abstrak

The concepts of mutual assistance and charity often come to mind when takÉful (Islamic insurance) is mentioned. This is understandable given that takÉful, in the generic sense, has played an essential role in risk sharing in Muslim history. However, another feature has been added to the modern practice of takÉful. The current takÉful scheme has added the investment element to its products, one of a number of features that it shares with conventional insurance. The investment feature has become an inherent part of takÉful activities, departing from its original core roles of providing mutual guarantee, assistance and solidarity. This is most apparent when looking at family takÉful where the participant’s fund is segregated into two pools: the participant’s risk fund (PRF) and the participant’s investment fund (PIF). The offering of a number of investment-linked products in the market has led to making the takÉful scheme more appealing and competitive. This evolution has been the result of a natural progression to ensure that takÉful operations remain continuously viable and compatible in the current economic and social environment

Keyword

takaful, investment ,fund

Sitasi

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Link Publikasi
https://www.researchgate.net/profile/Mohammad-Ali-4/publication/289991002_The_Investment_Initiative_in_Taka_Ful_Issues_and_Challenges/links/5f3b9d95a6fdcccc43d107b7/The-Investment-Initiative-in-Taka-Ful-Issues-and-Challenges.pdf