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Concept of Takaful Essay Preview: Concept of Takaful Report this essay 3.0 LITERATURE REVIEW3.1 Concept of TakafulTakaful is an Islamic alternative to conventional insurance. The word “takaful” is derived from the Arabic verb “Kafala”, which means guarantee or responsibility (Billah, 2003). According to Muhammad Nejatullah Siddiqi (1985), there are three elements present in conventional insurance that do.
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