Takaful Insurance

Takaful Insurance

Takaful is an Islamic insurance concept which is widely gaining acceptance among the Muslims as they are inclined to purchase Sharia-compliant product. The majority of the world’s Muslim population being young and affluent, it has the potential to represent a strong customer base for a fairly long duration if it is captured early.

There has been a rise in the awareness among the Muslims regarding the monetary benefits offered by Takaful insurance. This has encouraged the foreign insurance companies to collaborate with Takaful insurance companies, in turn, increasing their market reach worldwide.

Besides this, the demand for Takaful insurance products is also increasing amongst the non-Muslim consumers as it is an ethical investment policy, with strong growth prospects and price competitiveness.

.