Corporate Governance in the Islamic Insurance (Takaful) and Traditional Insurance Companies (Word DOCX)

This paper starts with the background of Takaful explaining how it originated and how it has evolved in these many decades. In the next section, the conceptual framework and the main guidelines of Takaful are discussed. In the third section, the difference between underlying principles of the conventional insurance and that of Islamic insurance are highlighted along with a brief about Re-Takaful or re-insurance. Finally, the paper concludes with a brief on the future prospects and the increasing influence of Islamic insurance.