In-Depth Analysis on Islamic Insurance Market Outlook 2018-2025: Key Futuristic Trends, Standardization, Competitive Analysis, Future Outlook, and Key Players
Islamic finance has grown rapidly, with the trend expecting to continue. Although the concept has been around for much longer, Islamic finance only attained a formal status in Muslim-majority countries in the 1970s. Islamic insurance, where members contribute money into a pool system in order to guarantee each other against loss or damage. Takaful-branded insurance is based on sharia, Islamic religious law, and explains how it is the responsibility of individuals to cooperate and protect each other.
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