Abstract
A Takaful company, with its limited financial resources, may want to hedge against possible inability to meet all Takaful indemnities if a number of damages occur simultaneously. Thus, a Takaful company may seek protection from the risks mentioned by putting some portion of money (called a premium) in a Re-takaful company, while in return the Re-takaful company provides security for the risk insured.
It is acknowledged that, the idea of this chapter/product is significantly contributed by the practices/experiences/thoughts of Bank Negara, ARIL, MNRB, Takaful Malaysia, Takaful Ikhlas, Takaful Nasional, Etiqa Takaful, IBFIM, IIUM, MII and others (Malaysia).
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Notes
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Rosly, S. A. (1996), Islamic Insurance:Takaful, Business-Focus. The Sun.
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Billah, M.M. (2019). Management of the Re-takaful Fund. In: Islamic Insurance Products. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-17681-5_37
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DOI: https://doi.org/10.1007/978-3-030-17681-5_37
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Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-17680-8
Online ISBN: 978-3-030-17681-5
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