Takaful contributions globally 2019, by country
Of the 23.1 billion U.S. dollars contributed to "takaful" in 2019, almost half was from Saudi Arabia. The Gulf state accounted for just over 10 billion U.S. dollars of contributions in 2019. Aside from Saudi Arabia, four other states recorded contributions of over one billion U.S. dollars in 2020: Iran, Malaysia, the United Arab Emirates, and Indonesia. Takaful is a form of Islamic insurance where members contribute money to a pool system to guarantee other contributors against loss or damage.