Please enable JavaScript.
Coggle requires JavaScript to display documents.
INTRODUCTION TO TAKAFUL PROPERTY & PECUNIARY (GENERAL BUSINESS (MARINE…
INTRODUCTION TO TAKAFUL PROPERTY & PECUNIARY
SCOPE OF TAKAFUL & CONVENTIONAL PROPERTY
DEFINITION PROPERTY
EVERY MATERIAL THING/ PHYSICAL OBJECT
FORTUITOUS LOSS/ DAMAGE
TYPES
TANGIBLE :green_cross:
real / personal
INTANGIBLE :green_cross:
pecuniary loss
SCOPE
:checkered_flag: PROPERTY
provide compensation losses of the property damage to insured
:checkered_flag: PECUNIARY
provide monetary losses to the subject matter of insured
COMPARISON
ISLAMIC
PURPOSES :star: co-operation / help one another
ACTIVITY :star: co-operation
PAYMENT :star: donation/contribution
ROLE :star:manage participant fund
INVESTMENT :star:only shariah compliant product
SHARING OF SURPLUS :star:surplus money is shared among members/participant
CONVENTIONAL
PAYMENT :recycle:premium/cost of buying insurance/security
ROLE :recycle:seller
ACTIVITY :recycle:buying &selling as product
INVESTMENT :recycle:any financial product
PURPOSE :recycle:security of profit
SHARING OF SURPLUS :recycle: no sharing with insured/ policyholders
GENERAL BUSINESS
MARINE
ENGINEERING
AVIATION
ACCIDENTS
FIRE
LIFE INSURANCE
GROUP
MORGAGE
ORDINARY LIFE POLICIES