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The market for Takaful
The number of Islamic insurance operators worldwide is gradually increasing but adoption of Takaful is still at an early stage with many commentators observing that it has not yet fulfilled its potential to replace conventional insurance in the leading Islamic finance markets.
Global Takaful report 2017: Market trends in family and general Takaful
This report by actuarial firm Milliman examines the growth of the global and family Takaful markets for 2012 to 2015, analysing financial trends, market penetration rates, and the various opportunities and challenges that lie ahead for the industry. The firm has also produced a paper on Implementing IFRS 17 for Takaful companies, published December 2018.
Global trends in Islamic finance and the UK market 2019
TheCityUK publishes a regular Islamic finance research report which summarises global trends in Islamic finance, with particular reference to how the market - including the Takaful market - is developing in the UK. The most recent report was published in April 2019.
Islamic Finance Outlook 2021
Annual S&P Global Ratings research report predicting trends that will shape the industry's growth, with a section on the Islamic insurance sector.
Islamic Finance News: IFN Annual Guide 2022
This annual IFN journal guide looks at overall markets for Islamic finance, with several individual country market reports and a review of the takaful market during the past year.
Islamic Financial Services Industry Stability Report 2021
Annual industry report by the Islamic Financial Services Board (IFSB). Provides updates on trends, market growth and developments in the Islamic financial services industry, including Takaful. See the Reports section of the page to access the report.
Multimedia and video
Essentials of Takaful
In this Institute of Islamic Banking and Insurance (IIBI) 2012 video Islamic finance expert Iqbal Asaria provides a short introduction to the essentials of Takaful. Running time, 17:19 minutes.
Takaful - A Discussion
A 2017 IIBI video in which industry experts Iqbal Asaria and Dawood Taylor discuss the origin and concept of Takaful and building capacity in the re-Takaful market. Running time, 22.33 minutes.
Useful links
Institute of Islamic Banking and Insurance
The Institute of Islamic Banking and Insurance (IIBI) publishes the quarterly magazine NewHorizon, which provides coverage of new developments in Islamic finance and Takaful.
Islamic Financial Services Board (IFSB)
The IFSB issues global standards for the Islamic finance industry, including standards for takaful and retakaful (reinsurance) undertakings and accompanying FAQs for the standards.
Islamic Insurance Association of London (IIAL)
Industry body launched in 2015 to support UK insurance markets transacting Islamic finance.
Middle East Insurance Review
The Middle East Insurance Review takes a regular look at the latest developments in the Takaful market, including regulatory changes in the Middle East and Asia which have the potential to alter the Takaful landscape.
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