A. Wakala
B. Kafala
C. Wauf
D. None of Them
Submitted by: Fayyaz Ahmed
The word Takaful comes from the Arabic root word Kafala, meaning “Guaranteeing each other”. The Takaful arrangement is based on the concept of Ta’awun (mutual assistance) and ‘Tabarru’, where a group of participants pool resources in order to mutually share the risk of each other.
Correct Answer: Kafala ✔
Last Updated: June 27, 2019