PINS 1.2.7 Takaful insurance concepts

(1) A takaful entity is:
(a) an Islamic financial institution that conducts takaful business; or
(b) a QFC insurer operating an Islamic window.
(2) Takaful business is the part of insurance business conducted by a takaful entity that is Islamic financial business.

Note Insurance business is defined in r 1.2.4.
(3) A takaful fund is a fund established and maintained by a takaful entity under rule 6.2.1 for its takaful business.
Amended by QFCRA RM/2015-3 (as from 1st January 2016)
Amended by QFCRA RM/2021-1 (as from 1st July 2021).