Takaful and retakaful play a significant role in managing and mitigating risks in Islamic banking and finance.

Name: Takaful and retakaful play a significant role in managing and mitigating risks in Islamic banking and finance.
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Takaful (Islamic insurance) and retakaful (Islamic reinsurance) are mechanisms within Islamic finance that provide a Shariah-compliant way to pool risks and distribute liabilities among participants, thus playing a crucial role in managing and mitigating risks.

Takaful and Retakaful Play a Significant Role in Managing and Mitigating