Peter Hodgins

Prospects of Takaful Growth

Growth in the takaful industry, has slowed slightly as a result of the global economic crisis but is still outpacing the Islamic finance sector as a whole, Peter Hodgins, partner at international law firm Clyde & Co told Reuters: "In percentage terms it is growing faster than the Islamic finance sector and 30, 40 or 50 percent growth in premiums is not unheard of."

A recent report by HSBC estimated the global takaful market at $14.4 billion by 2010.

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