Islamic Financial Services Board and Its Regulatory Functions in the Islamic Financial Industry
The demand for Islamic products becomes better due to the success of Islamic Financing and banking system in Malaysia. In order to create the confidence of consumer to involve in takaful industries as one of the Islamic products, efforts to develop and manage takaful business must be genuine and effective. The establishment of takaful companies in non-Muslim countries such as Australia Takaful Insurance Company, Takaful UK Ltd., and Takaful USA Management Services, shows that the implementation of Islamic insurance is acceptable by all human being in different races, culture and religion.
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