Insights: World Bank – Takaful Is Part Of Global Financial Development
Source: Asia Insurance Review | May 2006
The World Bank
sees takaful as a potential channel for contractual savings that are instrumental
for capital market development. Mr Wafik Grais, Senior Adviser, Financial
Sector Policies, World Bank, told Asia Insurance Review that, like everything
new, takaful will take sometime to develop. The World Bank notes the significance
and rapid growth of Islamic finance as a whole, including takaful, and it is
assessing how this sector of finance can further contribute to financial development.
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