Sabbir Patel

World Bank publishes book on mutuals and takaful

World Bank has published a new book concerning Takaful and Mutual Insurance. The book shall increase the understanding, appreciation, and discussion of the challenges and solutions which concern development and implementation of takaful.

Microtakaful – making a real difference to people’s lives

Microtakaful shall help people at the base of the economic pyramid to find a way out of poverty and gives them a real hope of being financially independent. It is known that of the 41 lowest human development countries, 20 have a majority Muslim population. In other words, 54 % of the one billion people living in the low depending countries are Muslims. There are actually just a few takaful operators that have entered into the low-income microtakaful market, especially in the countries where almost all population is Muslim, poverty is extended and the takaful sector is already established.

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