This video by Zain Ibrahim discusses the strong global growth of Takaful, especially in Saudi Arabia, Malaysia, Pakistan, UAE, and Bahrain, driven by demand for faith-aligned and ethical financial products. Despite challenges such as limited regulation, low awareness, and capped fees, Takaful is projected to grow significantly over the next decade. One practical solution is the Window Takaful model, which allows conventional insurers to provide Shari’ah-compliant products while maintaining strict operational separation. This approach balances scalability with integrity and has been successfully implemented in markets like Pakistan, Indonesia, Turkey, and parts of the Middle East.
Contributors: Zain Ibrahim, ASA, ACIA; Lisa Schilling, FSA, EA, FCA, MAAA; Jon Forster, ASA, MAAA;