Surplus management in Takaful : finding the proper balance

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      <subfield code="a">Ismail, Wan Saifulrizal Wan</subfield>
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      <subfield code="a">Surplus management in Takaful</subfield>
      <subfield code="b">: finding the proper balance</subfield>
      <subfield code="c">by Wan Saifulrizal Wan Ismail and Mark Birch</subfield>
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      <subfield code="a">Interest in takaful has grown in recent times because of increased demand for a Sharia-compliant instrument to provide protection against adversity. Insurance is not considered to be Sharia-compliant because it includes three key elements prohibited under Islamic law: gharar, maysir and riba. But takaful, a system of pooling funds to protect members from risk, offers a viable alternative because it adheres to Sharia. An increasingly affluent Muslim population and a growing awareness of the need for protection against adversity are expected to increase demand for takaful. It is already evident that more takaful operations will be established, and many of these involve conventional insurers entering the market either alone or in partnership. Takaful and the conventional insurance business have much in common, but there are also a number of subtle differences that require a different approach in establishing a takaful business. This article illustrates one important topic where such subtleties prevail  the distribution of surplus</subfield>
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      <subfield code="t">Emphasis</subfield>
      <subfield code="d">New York : Towers Watson, 1987-</subfield>
      <subfield code="g">28/03/2012 Número 1  - 2012 , p. 11-14</subfield>
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