Takaful Simplified: Pertinent FAQ for Quick Reference and Understanding (UUM Press)

Download or read book Takaful Simplified: Pertinent FAQ for Quick Reference and Understanding (UUM Press) written by Saiful Yazan Ahmad and published by UUM Press. This book was released on 2017-01-02 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Malaysia is ahead of other countries having introduced legislation and guidelines to promote the stability and growth of Islamic finance in the country. Islamic Financial Services Act (IFSA) was introduced in 2013 to coordinate some good deed by adding a number of provisions, including the Takaful Act. Among the guidelines that have been introduced or enhanced by the Malaysian authorities that impact directly on Takaful is a Risk-based Framework for Takaful Operators, Guidelines on Takaful Operational Framework and Syariah Governance Framework for Islamic Financial institutions. Takaful industry is expected to continue its growth in the future with the emergence of new markets in certain countries. This book aims to answer some key questions are often raised about the takaful business based on current market practice and as a quick reference source for anyone interested. The discussion in this book revolves around the issues that have been raised by civil society and the individual directly or indirectly when dealing with Takaful. The author attempts to answer these questions in a style and language that is easily understood by all parties.