This publication is part of the journal ISRA International Journal of Islamic Finance (English Journal) (2011-2)
Little research has been carried out on the concept of risk in takaful. Furthermore, risk in takaful has traditionally been associated with conventional insurance risks. As a result, although the literature on the operational concept of takaful is rich, this literature does not address the intricacies of risk because of the acknowledgment of conventional insurance risks in takaful. This preliminary study aims to provide a reference or parameter for Shari'ah screening of permissible risks that can be used by takaful operators in Malaysia. It is significant to understand this issue in order to harmonise takaful practice and enhance the cooperation between the takaful operators.
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