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Group Islamic Cashline Takaful

In: Islamic Insurance Products

Author

Listed:
  • Mohd Ma’Sum Billah

    (King Abdulaziz University)

Abstract

A Takaful company runs its business to conform to the rules prescribed by Shari’ah. It exempts all elements that are not in accordance with the Islamic principles, such as Gharar, which means there are unknown or uncertain factors, for instance the subject matter in the operation of a contract. The subject matter of the contract must be definite, clear and transparent so that the participant and the Takaful operator know this to be the case. The obligations and responsibilities under the contract also should be clear to both parties.

Suggested Citation

  • Mohd Ma’Sum Billah, 2019. "Group Islamic Cashline Takaful," Springer Books, in: Islamic Insurance Products, chapter 0, pages 211-220, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-17681-5_16
    DOI: 10.1007/978-3-030-17681-5_16
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