{"product_id":"takaful-and-mutual-insurance-alternative-approaches-to-managing-risks-paperback-softback-9780821397244","title":"Takaful and Mutual Insurance; Alternative Approaches to Managing Risks (Paperback \/ softback) 9780821397244","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eTakaful and Mutual Insurance\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eAlternative Approaches to Managing Risks\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eSerap O. Gonulal (Edited by)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780821397244\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePaperback \/ softback, published 30 November 2012\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e224 pages\u003cbr\u003e22.9 x 15.1 x 1.2 cm, 0.333 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eInsurance plays a positive role in economic development, but some of its traditional products are inhibiting in some cultural settings. 'Takaful and Mutual Insurance: Alternative Approaches to Managing Risks' explains the development of a hybrid model. Takaful (which means 'cooperative') is intended to deal with three prohibited or haram practices under Islam: the payment of interest (riba), the existence of uncertainty in a transaction (gharar), and gambling (maysir). The primary intent of this relatively recent entry to world insurance markets is to provide a core service to Muslims and others who have religious or ethical objections to conventional commercial insurance models. A secondary intent is to develop a model that deals with the capital challenges that have faced mutual insurers in the West and the subsequent decline of the mutual business model. Two realities-the uneven approaches to takaful and the economic potential that its availability is releasing-mean that it is especially important to facilitate debates that promote an understanding of takaful. \u003cbr\u003e\u003cbr\u003eThis book-while not attempting to take on a role belonging to sharia lawyers and regulators in Islamic countries-provides a comprehensive overview of mutual insurance structures, including Christian and Jewish examples as well as other hybrid models, to provide a broad overview of the universe of operating models and to present ideas for moving forward. It also explores avenues for further opportunities, including the application of takaful to microinsurance markets in emerging countries with large Muslim populations. \u003cbr\u003e\u003cbr\u003e\u003cem\u003eTakaful and Mutual Insurance: Alternative Approaches to Managing Risks\u003c\/em\u003e seeks to increase the understanding, appreciation, and discussion of the challenges and solutions needed for the active development and implementation of takaful.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\r\n\u003c\/font\u003e","brand":"World Bank Group Publications","offers":[{"title":"Brand New","offer_id":52574474993944,"sku":"9780821397244","price":20.99,"currency_code":"GBP","in_stock":true}],"url":"https:\/\/freshlyprintedbooks.co.uk\/products\/takaful-and-mutual-insurance-alternative-approaches-to-managing-risks-paperback-softback-9780821397244","provider":"Freshly Printed Books","version":"1.0","type":"link"}