The growing influence of Takaful

GulfNEWS:Question: With the World Takaful Conference having taken place in Dubai, I have been considering looking at Sharia-compliant insurance for my business. I currently have very little cover for the company and my 18 staff. What options are available in the UAE market?

Answer: The rapid growth of Islamic finance is one of the most important trends reshaping the financial world. Most people will be drawn to Takaful products due to its ethical dimension. However, there are also many financial reasons why people consider Islamic policies, particularly if they see a better opportunity of a return on their investment.

Last week's World Takaful Conference in Dubai was a great success, and highlighted the many hundreds of Takaful insurance products that are now available in the UAE and the rest of the GCC. The global Takaful market is expected to be worth in the region of $11 billion by 2015 and despite current economic concerns, is growing at a faster rate than conventional insurance...continue Reading