Under wakala-based model, the takaful operator performs as the wakil or agent of the policyholders and is consequently entitled to a fee for the services provided. In theory, the policyholders pay premium that is credited to a policyholders’ fund.
Under wakala-based model, the takaful operator performs as the wakil or agent of the policyholders and is consequently entitled to a fee for the services provided. In theory, the policyholders pay premium that is credited to a policyholders’ fund.