Problems of managing Takaful insurance contracts A comparative study between the Tabarru’u model of the Takaful fund and theTabarru’u model of the Waqf fund

Abstract

This researchaimsatexplaining and reviewing the Tabarru’u model of the Takafulfund and the theTabarru’u model of the Waqffund, approved by the Takafulcompanies in their applications, based on the research of experts in Islamic finance and the decision of the institutions supportingthem, in order to access the availableliterature in thisfield and adjustitsmeritsincludingidentifying the differencesbetweenits applications.

It was concluded that the difference between the applications of Takaful insurance is due to the lack of agreement among the experts on a sound uniform formula from shortcoming, and that the most important differences between insurances Tabarru’u contracts and WaqfTabarru’u contracts revolve around the ownership of the insurance fund, and the legitimacy of the distribution of surplus. This calls for deepening and broadening the scope of research in this area