CANADA: Ches Special Risk has launched Canada’s first Takaful product and will ensure Shariah compliance beyond insurance coverage to also include where the premiums will be invested. Thereafter, the underwriting profit is treated as a surplus with the concept of mutualization — with proceeds to be distributed back to participants. If the surplus is too low to be meaningful, the amount will then be distributed to community-based charities.
Restricted Access
Login to continue reading (existing subscriber)
Subscribe NOW and get:
- Gain unlimited access through all key operating platforms
- Full access to all listed Islamic funds & fund profiles
- Unlimited access to all Islamic fund managers
- Access to all exclusive articles, reports, podcasts & videos
- Complimentary access to all IFN Investor Forums
