According to financial markets analysis firm Moody's, Islamic Insurance (takaful) is experience steady and strong growth.
Islamic insurance (takaful) has shown very impressive premium growth rates of about 20 per cent since 2000 and is expected to reach $7.4 billion by 2015, according to Moody's Investor Services.
Total takaful premiums were about $2 billion in 2005. Moody's attributes the rapid pace of growth of takaful to the difficulties that traditional insurers are facing in complying with Sharia as a result of their investment strategies.
Read the full article in GulfNews.