Here we present the practices of Takaful. The issue regarding whether a licensed insurance agent or a broker can also be licensed to market Takaful products is analyzed based on different Shari’ah alternatives. Also, the general Takaful contract and the premium in Takaful are discussed. The beneficiaries of Takaful are explained, focusing on special cases like children. Accounting and management issues are also examined in addition to valuation of assets and liabilities.
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