Takaful, microtakaful, and the foundations of inclusion

Roughly one quarter of the world’s population is Muslim. However, conventional financial services — including insurance — do not comply with some of the fundamental tenets of Islam. Islamic finance in its modern commercial form emerged in the Gulf countries in the 1970s, although the principles upon which it is based date back some 1,400 years.

With this in mind, we have produced this briefing note aiming to stimulate discussion...