Group Takaful Plan

Mohd Ma’Sum Billah
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Mohd Ma’Sum Billah: King Abdulaziz University

Chapter Chapter 11 in Islamic Insurance Products, 2019, pp 159-166 from Springer

Abstract: Abstract Takaful business is based on the concept of Al-Mudharabah, or a profit-sharing contract between the providers of funds for a business venture and the entrepreneur who actually conducts the business. The operation of Takaful may thus be envisaged as the profit-sharing business venture between the Takaful operator and the individual members of a group of participants who desire to reciprocally guarantee each other against loss or damage that may be inflicted upon any one of them.

Date: 2019
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DOI: 10.1007/978-3-030-17681-5_11

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