DTM 2143

FUNDAMENTAL OF TAKAFUL

By:
Mardziyah Mohd Isa
INTRODUCTION TO MUAMALAT
 Islam

Shariah
Aqidah Akhlak
(Practices and
(Faith and Belief) (Moralities and Ethics)
Activities)

Ibadat Muamalat

Political Activities Economic Activities Social Activities

Banking & Financial

Activities
 Maqasid al-Shariah

 Maqasid is the Arabic

word for goals or
purposes. In Islamic Religion
context, it can refer to
the purposes of Islamic
faith.
Property Life

Maqasid
 The primary objectives Shariah
that Shariah tends to
realize are the
protection and
preservation of: Intellect
Progeny-
family
unit
Sources of Shari’ah

7
 Rulings of Shariah

• The rulings of Shariah for the daily actions of Muslims are

classified into five categories:

Wajib (obligation)

Mandub/Sunat (recommended)

Mubah/harus (permissible)

Makruh (discouraged)

Haram (prohibited)
 CHAPTER 1:
INSURANCE AND RISK
MANAGEMENT
CONCEPT OF RISKS IN ISLAM
 RELATIONSHIP

RISK TAKAFUL
 CHAPTER 2:
ISLAMIC ALTERNATIVE TO
INSURANCE-TAKAFUL
 CHAPTER 3:
OPERATIONAL FRAMEWORK
OF TAKAFUL
CLASSIFICATION OF TAKAFUL
OPERATIONS
UNDERLYING CONTRACTS IN TAKAFUL
 CHAPTER 4:
MODELS OF TAKAFUL
 CHAPTER 5:
DEVELOPMENT AND
SUPERVISION OF TAKAFUL
INDUSTRY IN MALAYSIA
The development of the Takaful industry in Malaysia started
when Takaful Act was enacted by Parliament in 1984. This Act
(Takaful Act 1984) provides for the regulation of Takaful business
in Malaysia.
CONSUMER PROTECTION
 CHAPTER 6:
TAKAFUL STAKEHOLDERS
CHAPTER 7:
RETAKAFUL
 CHALLENGES IN THE RETAKAFUL
INDUSTRY

Limited
Competition Lack of rating
capacity

Lack of Transparency
expertise in reports
 CHAPTER 8:
MEDICAL AND HEALTH
TAKAFUL
What is medical and health Takaful
• Guidelines on Medical and Health Takaful
Business defined Medical and Health Takaful
certificate as a certificate of Takaful that
provides specified benefits against risks of
persons becoming totally or partially
incapacitated as a result of sickness or
infirmity.
 CHAPTER 9:
TAKAFUL INTERMEDIARIES
 Truthful
(siddiq)

Upholding CHARACTERISTICS Intelligence

Trusts
(amanah)
OF TAKAFUL (fathonah)
AGENTS

Convey
(tabligh)
 CHAPTER 10:
ISSUES, OPPORTUNITIES AND
CHALLENGES
END