A. Wakala
B. Kafala
C. Wauf
D. None of Them
Submitted by: Fayyaz Ahmed
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The word Takaful comes from the Arabic root word Kafala, meaning “Guaranteeing each other”. The Takaful arrangement is based on the concept of Ta’awun (mutual assistance) and ‘Tabarru’, where a group of participants pool resources in order to mutually share the risk of each other.
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