What Will Learn?
Takaful is an Islamic insurance concept that is based on the principles of mutual cooperation and shared responsibility. It is an alternative to conventional insurance, which is based on the principle of indemnity and is often viewed as being incompatible with Islamic values.
In a takaful model, participants contribute to a pool of funds, which is used to provide financial protection to members who suffer a loss or need to make a claim. The takaful operator manages the pool of funds and ensures that claims are paid in a fair and transparent manner.
Build knowledge and understanding of the technical aspects of Islamic Insurance (Takaful) and its application in the global marketplace. You will learn the nature and principles of Islamic insurance and Shariah framework of Islamic insurance. The understanding of operational framework of Islamic insurance. Build knowledge of the structure of Islamic insurance markets. Understand the constraints and opportunities for Islamic insurance. You will learn the way in which ethical considerations of Islamic insurance are applied and practice. This is a 4-credit-hour course and allotted 6 weeks of time.
Islamic Insurance Takaful
Takaful is a word that describes the system of Islamic insurance in the Middle East. Like all the other rules and regulations in this region of the world, Sharia Law governs Islamic insurance systems and policies.
The general rule under Sharia Law is that insurance policyholders must share the risk together. For instance, if one policyholder gets injured and needs their insurance to cover the damages, other policyholders must contribute to the claim and bear the risk together. It is a lot different than conventional insurance policies, which put all the risk on the insurance companies rather than on its other policyholders.
If you’re planning to work in the Islamic insurance industry, it is imperative to learn about Takaful and how it is governed. Our Islamic Insurance Takaful course will help you build knowledge and understanding of Islamic insurance’s technical aspects and its application in the global marketplace.
You will learn the nature and principles of Islamic insurance and the Shariah framework of Islamic insurance. The understanding of the operational framework of Islamic insurance. Build knowledge of the structure of Islamic insurance markets. Understand the constraints and opportunities for Islamic insurance. You will learn how ethical considerations of Islamic insurance are applied and practiced.
Islamic Insurance Takaful is a four-credit course of the Accelerated Ethereal Master in Islamic Finance and Banking Degree program at American International Theism University. If you complete all the online tests and classwork successfully, you’ll finish the course within six weeks. Then you can continue to pursue your degree until you finish all the required courses of the program.
Islamic insurance is unlike any other insurance in the world. As you study it throughout this course, our experienced instructors will be available to answer your questions at any time. They’re highly knowledgeable in Islamic Insurance and can clear up any confusion you might have about it.
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