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from the takaful fund for the defined losses incurred by any
members of the scheme, all the members of the scheme essentially
protect each other.
In practice
Takaful insurance is growing rapidly in the Muslim world, as
financial service firms recognize that sound financial management
and religion are compatible, and possibly even complementary.
Although it only launched in 2007, the future for SABB Takaful—a
well-run, ethical business—is promising. The question is, why is it
taking so long for firms to realize the opportunities here? Businesses
not only make a profit but help people in a positive, socially
responsible way as well—by supporting their personal faith.
One question that is increasingly significant, and I suspect unusual,
is how can your business support people of faith?
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