Takaful: Principles, Practices, and Global Growth

Umidjon Dadabaev

Tashkent state university of economics, Uzbekistan

Email: u.dadabayev@tsue.uz

Abstract

This article explores Takaful, an Islamic insurance scheme adhering to Sharia principles. It examines its unique features compared to conventional insurance and its role within Islamic banking. Additionally, it highlights Takaful’s expansion globally, especially in countries like Malaysia, Pakistan, Indonesia, Turkey, UAE, and Great Britain.

Keywords: takaful industry; family takaful; general takaful; global Islamic finance; Mudarabah; murabahah