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 Relationship between the Participants and TO,
 Rights and obligations of the Participants and TO,
 Who pays the expenses incurred during the contract period?
 How is surplus distributed between the parties? and
 Who is liable for the losses arising from the Takaful business?
FIGURE 3: CLASSIFICATION OF TAKAFUL BUSINESS MODELS
Source: Authors’ own
3.2.1. Ta’awuni (Cooperative) Model
This model is a non-commercial arrangement based on the concept of brotherhood, solidarity
and cooperation among the participants, to protect each other in case of misfortune or calamity
befalling any of the participants. The Trustee (the Takaful company) manages it on behalf of the