A lot of questions arise on how risk management can be done the Islamic way. This video answers how the concept of Risk Management evolved and what is the process behind Takaful (Islamic Insurance).
Important points from the video:
– Policyholders pool in money for uncertain events
– A Waqeel or takaful fund manager accumulates and manage the fund with a fee
– Fund is invested in Sukuks, Property and Shariah Compliant companies
– Fund is invested in Sukuks, Property and Shariah Compliant companies
– Policy Holders get a claim in case of unforeseen events like accident and emergencies
