Riskonomics, Uncategorized

A Facebook for Takaful?

While its objective is noble, conventional insurance does not comply with shariah in various aspects such as Risk transfer (company is the risk carrier that lead to maysir/gambling), riba (including in investment) and gharar.Takaful has been developed as alternative to insurance by removing those non compliant components.  It works on risk sharing basis whereby risk is not transferred… Continue reading A Facebook for Takaful?