TAKAFULVS

INSURANCE

Financial system

Banking Insurance

Takaful (Islamic)

Commercial Insurance

(Conventional)

•A policy from a large financial institution that offers financial protection against future losses or damages.

INSURANC

E• Is an Islamic insurance

concept which is grounded by observing the rules and regulations of Islamic law. (license)

TAKAFUL

insurance

•Life Insurance•Medical Insurance•General Insurance

• Others

Concept:

Insurance : buy and sell contract.

Takaful :donation contract.

Al-Gharar (Uncertainty)

Al-Maisir (Gambling) Riba

(Interest)

takaful Mutual responsibil

ity

Mutual cooperatio

nMutual protection

Easy words:

Through insurance a person buys security and protection.

Easy words:In takaful, members

contribute money into a pooling system in order to guarantee each other against losses or damages.