The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance

Chapter 13: Takaful: Philosophy, Legitimacy and Operation

This chapter focuses on differences between the Takaful – Wakala-based model, Mudaraba-based model, trust-based model etc. and why a particular model is chosen in a given jurisdiction. Why has a genuine cooperative model of Takaful not yet emerged and why the joint-stock company model tends to dominate?

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