TKF1011 Key Aspects of Takaful

Module Description

This module will deliberate on the nature of risk, risk management process and the rationale for Takaful as an Islamic risk management’s tool. This is followed by an overview of Takaful from both historical and Shariah perspectives, the operating models and commercial contracts used in Takaful and issues associated with Takaful models.

Learning Outcomes

1. Explain on the underlying concept of Islamic Risk Management and types of risk.
2. Respond to the development of Takaful and compare the differences between Insurance and Takaful.
3. Select and apply a range of contracts and operation models used in Takaful and its applications.

 

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