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LIST OF FIGURES
Figure 1: Takaful Industry Development Score ...............................................................................................21
Figure 2: Re-Takaful Concept...................................................................................................................................28
Figure 3: Classification of Takaful Business Models ......................................................................................41
Figure 4: Pure Wakalah Model ................................................................................................................................43
Figure 5: Modified Wakalah Model .......................................................................................................................43
Figure 6: Pure Mudarabah Model ..........................................................................................................................45
Figure 7: Modified Mudarabah Model..................................................................................................................45
Figure 8: Wakalah-Mudarabah Hybrid Model ..................................................................................................46
Figure 9: Total Takaful Assets in 2017 ................................................................................................................49
Figure 10: Total Number of Takaful Operators - 2017 .................................................................................49
Figure 11: Top Global Takaful Markets 2017 ...................................................................................................50
Figure 12: Implementation of IFSB Takaful Standards by Regulatory and Supervisory
Authorities (2015-2016) ...........................................................................................................................................51
Figure 13: Dynamics of General and Family Takaful in Malaysia ............................................................74
Figure 14: General Takaful Components in Saudi Arabia (2018) ............................................................85
Figure 15: Retention Ratio ........................................................................................................................................89
Figure 16: Gross Written Premiums.....................................................................................................................90
Figure 17: Net Written Premiums .........................................................................................................................90
Figure 18: The Flow chart of the 1st Cooperative Insurance Model in Saudi Arabia........................92
Figure 19: The Flow chart of the 2nd Cooperative Insurance Model in Saudi Arabia ......................93
Figure 20: The Flow chart of the 3rd Cooperative Insurance Model in Saudi Arabia.......................94
Figure 21: The Non-Life Insurance of Turkey................................................................................................105
Figure 22: The Life Insurance in Turkey..........................................................................................................106
Figure 23: Size of General Takaful in Turkey.................................................................................................107
Figure 24: Size of Family Takaful in Turkey...................................................................................................107
Figure 25: Total Takaful Market Share in Turkey........................................................................................108
Figure 26: Financial Services Economic Output as a % of the UK economy.....................................112
Figure 27: Leading Insurance Companies of the UK...................................................................................112
Figure 28: Leading Insurance Companies of the UK Ranked by Total Assets in 2016.................113
Figure 29: Cobalt Takaful Model .........................................................................................................................120
Figure 30: The Structure of Takaful Alternative Student Finance ........................................................120
Figure 31: Political and Macroeconomic Environment (Survey Results)..........................................124
Figure 32: Regulatory Framework (Survey Results)..................................................................................125
Figure 33: Business Operations (Survey Results)........................................................................................126
Figure 34: Technology (Survey Results)..........................................................................................................126
Figure 35: Shari'ah Framework (Survey Results)........................................................................................127
Figure 36: Infrastructure (Survey Results).....................................................................................................128
Figure 37: Market (Survey Results) ...................................................................................................................129
Figure 38: Human Capital (Survey Results) ...................................................................................................130
Figure 39: Strengths (SWOT Survey Results)................................................................................................131
Figure 40: Weaknesses (SWOT Survey Results)...........................................................................................133
Figure 41: Opportunities (SWOT Survey Results) .......................................................................................134
Figure 42: Threats (SWOT Survey Results)....................................................................................................136
Figure 43: The Components of IFDI ...................................................................................................................166