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Little contest between Shariah insurance and conventional insurance January 26, 2008

Posted by Suheri in Takaful.

takaful1.jpgThis Article was published in MiddleEast Insurance Review September 2006 Issue. This magazine is circulated mainly in Middle East and Asia Countries.

Islamic economic growth is a new trend in the world. The expansion has been so fast, coinciding with a crisis in the last decade in the conventional economy. There was chaos because of the growth and fluctuations in the money market.
Currency rate and bank interest rate fluctuations created difficulties for companies and banks with committed rates. Banks find it hard to meet returns commitments because they faced negative spreads at times. For companies which borrowed from banks, floating interest rates make it difficult to make repayments, particularly when interest rates shot up suddenly. This uncertain situation has become the weakness of the conventional economic system….. To read more click this Little Contest



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