The product team of KAF Takaful Berhad is proposing to introduce a service-based P2P micro takaful plan for a $10,000 death benefit (khairat). Each participant who subscribes to this plan will pay an advance contribution of which 20% will be paid to KAF as an administration fee. The remaining amount will then be channelled to the participant’s mutual account. If any death occurs the khairat benefit will be paid equally by existing participants through deductions from their mutual account. How would you appraise this proposal from a Shariah point of view?

The product team of KAF Takaful Berhad is proposing to introduce a service-based P2P micro takaful plan for a $10,000 death benefit (khairat). Each participant who subscribes to this plan will pay an advance contribution of which 20% will be paid to KAF as an administration fee. The remaining amount will then be channelled to the participant’s mutual account. If any death occurs the khairat benefit will be paid equally by existing participants through deductions from their mutual account. How would you appraise this proposal from a Shariah point of view?

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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