A survey of the islamic insurance literature-Takaful

The increasing wealth of the Muslims and growing awareness of the necessity for protections are generating demand for takaful, a risk sharing that is obedient with Islamic law. The purpose of this paper is to survey the literature on Islamic insurance (takaful) covering conceptual and practical aspect of it. We start by defending the Takaful concept, how it is different from the conventional insurers, different models of takafuls, example of Takaful insurance. We then highlighted the growth history of Takaful insurance globally, and finally we survey the literature of Takaful insurance.