Continuation
It facilitates
economic transactions by providing:
-
transfer
-
and
indemnification.
It also:
-
promotes financial
stability;
-
enables risks to
be managed more efficiently;
-
and fosters efficient
capital allocation.
The Islamic (takaful)
insurance industry is an important segment of the Islamic financial system.
It:
-
complements the
other segments;
-
and acts as a
risk-sharing channel
to help withstand
financial shocks.
From the research paper of
European Central Bank
(Authors: F.Mauro, P.Caristi, S.Couderc, A.D.Maria, L.Ho,
B.K.Grewal, S.Masciantonio, S. Ongena and S.Zaher)
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