What does takaful mean?
Definitions for takaful
taka·ful
This dictionary definitions page includes all the possible meanings, example usage and translations of the word takaful.
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Wikipedia
Takaful
Takaful (Arabic: التكافل, sometimes translated as "solidarity" or mutual guarantee) is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic or sharia compliant alternative to conventional insurance, which Takaful proponents believe contains forbidden riba (usury) and gharar (excessive uncertainty).Under takaful, people and companies concerned about hazards make regular contributions ("donations") to be reimbursed or repaid to members in the event of loss, and managed on their behalf by a takaful operator. Like other Islamic finance products, Takaful is grounded in Islamic Muamalat (commercial and civil acts or dealings branch of Islamic law). In 2018, the takaful industry had grown to a size of $27.7 billion of "contributions" (from a 2011 figure of $12 billion). The movement has been praised as providing "superior alternatives" to insurance that "reinvigorate human capital, emphasize personal dignity, community self-help, and economic self-development"; but also criticized as having "dwindled" in scope to an industry of "conventional insurance with Arabic terminology and language of contract".
Numerology
Chaldean Numerology
The numerical value of takaful in Chaldean Numerology is: 7
Pythagorean Numerology
The numerical value of takaful in Pythagorean Numerology is: 9
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Translations for takaful
From our Multilingual Translation Dictionary
- التكافلArabic
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"takaful." Definitions.net. STANDS4 LLC, 2024. Web. 23 Apr. 2024. <https://www.definitions.net/definition/takaful>.
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