The modern history of takaful dates back to 1979 when:
A) Islamic-Arab Insurance Company was established in Saudi Arabia and later in United Arab Emirates
B) the Islamic Insurance Company was established in Sudan and offered its takaful based on the cooperative insurance model
C) Malaysia enacted the Takaful Act which provides for the regulation of takaful business in Malaysia and other incidental matters
D) the OIC Fiqh Academy approved the takaful system
Correct Answer:
Verified
Q36: When the participants' investment fund PIF. is
Q37: The funds contributed by the participants under
Q38: The main two parties involved in the
Q39: General takaful is a short-term policy that
Q40: The hybrid takaful model is a combination
Q42: Deficit occurs when the takaful claims of
Q43: Takaful premiums are:
A) considered as trust held
Q44: Within the conventional framework of insurance, the
Q45: It is the duty of the takaful
Q46: The shareholders will get reimbursed from the
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