What is covered. Gap in Islamic Finance Conventional Insurance Takaful Concept Takaful Rules Retakaful Market Potential Islamic Banks and BancaTakaful. Gap in Islamic Finance. Islamic Banks contracts require assets to be insured with a Takaful company as per Shariah requirement.
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“Co-operative Risk Sharing” basis.
Number of Branches expected to grow exponentially
Two new banks Emirates Global Islamic Bank Limited and First Dawood Islamic Bank Limited
State Bank growth estimates for Islamic Banks
Rs. In billion
Source: SBP Publication June 2006
Takaful Operators, banks and Capital market players continuously focus on product building to offer more attractive products that fulfill the differentiated needs of the customers.
Abdul Rahim Abdul Wahab, FSA
Director & Actuary
Actuarial Services Division
Sidat Hyder Morshed Associates (Pvt) Ltd
Islamic Finance & Investment Symposium 6 - 7 Dec 2006, Karachi