World Bank publishes book on mutuals and takaful

Actuarial Partners' senior partner, Zainal Abidin Mohd Kassim and partner, Hassan Scott Odierno were contributing authors to a book on takaful published by the World Bank titled Takaful and Mutual Insurance: Alternative Approaches to Managing Risks

Excerpts from the overview section:

Explains that the main differences that separate takaful insurance from the conventional joint stock and mutual or cooperative insurance models make it acceptable to many where traditional insurance products are not. Having grown nearly 30 percent annually (2007–10), with premiums in 2010 reaching US$8.3 billion and expected to reach US$12.0 billion in 2012, takaful has enormous potential to enhance the lives of Muslims throughout the world, since it can cover life, health, property, motor, and liability risks and also reach the smallest families and the poorest communities through microtakaful. Takaful also has enormous potential to enhance the economic development of the Muslim world. A number of dynamic challenges exist, however, whether on the investment, operational management, educational, distributional, or regulatory fronts, and possible solutions require public education and free debate so that takaful can develop in as efficient a manner as possible.

Previews of the book can be found here or the address below:-

Orignal article appeared in Co-operative News

Comments are closed.