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Retakaful and its importance to Islamic finance

In: Encyclopedia of Islamic Insurance, Takaful and Retakaful

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Abstract

Reinsurance in the conventional financial system is insurance that is purchased by an insurance company and which allows insurance companies to remain solvent after major negative events followed by large claims. Almost all conventional insurance companies have a reinsurance scheme. Retakaful is the Islamic alternative to the reinsurance industry ensuring the stability of Takaful companies and the entire industry. Retakaful operators have a direct and close connection with the Takaful operators and the success and viability of the Retakaful market depends on the prosperity of the Takaful market.

Suggested Citation

  • ., 2019. "Retakaful and its importance to Islamic finance," Chapters, in: Encyclopedia of Islamic Insurance, Takaful and Retakaful, chapter 6, pages 256-285, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:18149_6
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    Cited by:

    1. Jeong, Yoonjea & Saha, Subrata & Moon, Ilkyeong, 2020. "Optimal devanning time and detention charges for container supply chains," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 143(C).
    2. Bixi Jin, 2021. "A Multi-Dimensional Analysis of Research Article Discussion Sections in an Engineering Discipline: Corpus Explorations and Scientists’ Perceptions," SAGE Open, , vol. 11(4), pages 21582440211, October.

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