LIST OF TABLES

Table 1: Contents of Study ........................................................................................................................................17

Table 2: Selected Islamic Finance Development Indicators (IFDI) .........................................................22

Table 3:

Takaful

vs Conventional Insurance .....................................................................................................35

Table 4: Main IFSB Standards Specifically Relating to

Takaful

.................................................................51

Table 5: Key Milestones in the Development of

Takaful

in OIC countries............................................53

Table 6: Strategic Phases of

Takaful

Development.........................................................................................56

Table 7: Comparison of Selected Countries.......................................................................................................57

Table 8: List of

Takaful

and

Re-Takaful

Operators in Malaysia.................................................................75

Table 9: Performance of Family

Takaful

Business of Malaysia .................................................................76

Table 10: Performance of General

Takaful

Business of Malaysia ............................................................76

Table 11: Proposed Enhancements to the

Takaful

Operational Framework of Malaysia .............78

Table 12: Insurance Laws Development in Saudi Arabia ............................................................................86

Table 13: Insurance Rules and Regulations in Saudi Arabia ......................................................................87

Table 14: Insurance Circulars of Saudi Arabia .................................................................................................87

Table 15:

Takaful

Sector Partners ......................................................................................................................103

Table 16: Comparison of Regulatory and Supervisory Frameworks...................................................104

Table 17: Full-Fledged

Takaful

Companies and Windows in Turkey as of End 2018..................106

Table 18: Growth of General and Family

Takaful

in Turkey (%) ..........................................................108

Table 19: List of Full-Fledged

Takaful

Companies with Operating Models ......................................108

Table 20: Issues and Policy Recommendation for the UK........................................................................122

Table 21: Distribution of Survey Respondents (Questionnaires) .........................................................123

Table 22: Legal and Regulatory Framework Issues and Policy Recommendations......................146

Table 23:

Shari'ah

Issues and Policy Recommendations..........................................................................147

Table 24: Product and Services Issues and Policy Recommendations ...............................................148

Table 25: Talent Development Issues and Policy Recommendations.................................................150

Table 26: Takaful Business Sustainability Issues and Policy Recommendations ..........................151

Table 27: Policy recommendations and the Implementing Agencies .................................................151

Table 28: Islamic Finance Development Indicators - 2018 .....................................................................164

Table 29: Macroeconomic Indicators of the Selected Countries ...........................................................167

Table 30: 2019 Index of Economic Freedom .................................................................................................168