This authoritative book tracks the evolution of the takaful industry over the course of the last four decades and makes a major attempt to highlight the importance of risk sharing through a discussion of various models of cooperation and critical analysis of their performance, including illuminating case studies and a critical assessment of the Islamic insurance model and the role of alternate financing mechanisms. Its high-level discourse on shari’ah compliance and its nuances places emphasis on the importance of solidarity, cooperation, mutuality and reciprocity. With an analysis of Takaful products and rendering it as a tool for social finance, this book is equally vital for academics and researchers interested in understanding various takaful models and their shari'ah considerations.
