MLchartDataset catalogue

Takaful

Term · Insurance and risk management · MLC-T-INS-003276

An Islamic insurance system based on principles of mutual cooperation, where participants contribute to a common fund to provide financial assistance to those who suffer losses. It operates on the concept of shared responsibility and ethical investment, avoiding interest (riba), uncertainty (gharar), and gambling (maysir). Takaful models include Mudarabah (profit-sharing) and Wakalah (agency fee).

Table 1. Record
IdentifierMLC-T-INS-003276
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-003276",
  "term": "Takaful",
  "field": "Insurance and risk management",
  "definition": "An Islamic insurance system based on principles of mutual cooperation, where participants contribute to a common fund to provide financial assistance to those who suffer losses. It operates on the concept of shared responsibility and ethical investment, avoiding interest (riba), uncertainty (gharar), and gambling (maysir). Takaful models include Mudarabah (profit-sharing) and Wakalah (agency fee).",
  "url": "https://mlchart.com/terminology/insurance/takaful/"
}

Record 3,404 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.