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TAKAFUL INSURANCE by Anna Game-Lopata
IN SHORT › Takaful, a form of
insurance with origins in Islamic law, is growing steadily throughout the ASEAN region.
› The growing Muslim
population, Islamic finance market and digitisation will provide a significant boost to the evolution of takaful versus conventional insurance.
› Constraints include low
awareness and penetration, developing and implementing appropriate regulation and governance, and the lack of human capital.
Time for
takaful to take off
Takaful insurance is on the rise, with an anticipated market value of US$97.17 billion by 2030. And with major growth opportunities in Asia Pacific, its risksharing principles could hold broader appeal.
JOURNAL // ISSUE 02 2022 // ANZIIF.COM
