Takaful insurance in Malaysia is an imperative or future vision

Abstract

This article aims to shed light on Takaful insurance; Which is  one of the most important and recent Islamic financial transactions. The Takaful industry has witnessed tremendous growth as this industry has emerged to provide compatible insurance products with Islamic Sharia provisions.

Malaysia is one of the first contributors in dealing with takaful insurance in a comprehensive comparison that deals with the philosophical vision, the legal framework, and the structural aspects; an approach that enabled it to lead the Takaful product at the global level.  The Malaysian Takaful institutions can be considered as one the main engine for the development of Takaful in the world.