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takaful

Line breaks: taka|ful
Pronunciation: /ˈtɑːkəfuːl
 
/

Definition of takaful in English:

noun

[mass noun] Islam
A type of insurance system devised to comply with the sharia laws, in which money is pooled and invested.
Example sentences
  • The insurance business, in general, and takaful, in particular, is a developing business opportunity with tremendous potential throughout the [Middle East-North Africa] region, he added.
  • Although family takaful is the Islamic equivalent of life insurance, fundamental differences separate the two systems.
  • A better understanding of the principles behind takaful, the laying down of clearer rules for the formulation of policies and a defined role for agents and brokers are essential if market penetration is to increase.

Origin

Arabic, literally 'mutual obligation'.

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into Arabic
Word of the day tenebrous
Pronunciation: ˈtɛnɪbrəs
adjective
dark; shadowy or obscure