Takaful

GPTKB entity

Statements (52)
Predicate Object
gptkbp:instanceOf Islamic insurance
gptkbp:alsoKnownAs Islamic insurance
gptkbp:alternativeTo conventional insurance
gptkbp:basedOn gptkb:Sharia_law
gptkbp:differenceFromConventionalInsurance Sharia compliance
no interest or gambling
risk shared among participants
gptkbp:fundedBy Takaful fund
gptkbp:globalGrowth increasing
gptkbp:governedBy Islamic scholars
https://www.w3.org/2000/01/rdf-schema#label Takaful
gptkbp:introducedIn 1979
gptkbp:languageOfOrigin gptkb:Arabic
gptkbp:managedBy Takaful operator
gptkbp:market gptkb:Indonesia
gptkb:Malaysia
gptkb:Pakistan
gptkb:Saudi_Arabia
Gulf Cooperation Council
gptkbp:meaning guaranteeing each other
gptkbp:operator hybrid models
Mudarabah (profit-sharing)
Wakalah (agency)
gptkbp:originatedIn gptkb:Middle_East
gptkb:Sudan
gptkbp:participants policyholders
gptkbp:principle mutual cooperation
shared responsibility
guarantee
gptkbp:profitDistribution dividends to participants
surplus sharing
gptkbp:prohibits gharar (uncertainty)
maysir (gambling)
riba (interest)
gptkbp:regulates gptkb:Indonesia
gptkb:Malaysia
gptkb:Pakistan
gptkb:Saudi_Arabia
gptkb:Islamic_Financial_Services_Board
local financial authorities
gptkbp:relatedTo Islamic finance
Sharia-compliant products
gptkbp:requires Sharia board approval
gptkbp:type family Takaful
general Takaful
gptkbp:usedFor gptkb:insurance
life insurance
property insurance
business insurance
motor insurance
gptkbp:bfsParent gptkb:Islamic_Finance
gptkbp:bfsLayer 6