Takaful contribution share of total insurance

In 2020, there were three countries where takaful comprised the entire insurance sector: Saudi Arabia, Iran and Sudan. No other country in this year saw takaful contributions comprise more than 50 percent of the total insurance sector, and in all but five countries it was less than 20 percent. Takaful is a form of Islamic insurance where members contribute money to a pool system to guarantee other contributors against loss or damage.

Share of the domestic insurance sector comprised of takaful contributions in 2020, by country

Characteristic	Share of total insurance sector
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-

Download

Source

Show detailed source information?

Already a member?

Source

Use Ask Statista Research Service

Release date

August 2022

More information

Region

Worldwide

Survey time period

2020

Supplementary notes

"Takaful" is a type of Islamic insurance product structured so as to comply with Islamic religious law (Sharia). Typically, Sharia is understood to prohibit investments in:

conventional financial services or debt instruments which earn income through interest or excess
businesses which engage in activities forbidden by Sharia, such alcohol and gambling
speculative transactions

For the purposes of regional classification, Iran is included in “MESA”, North African countries are included in “Africa”, and Turkey is included in “Others”.

Citation formats