2 Financial system Insurance Banking (Islamic) Commercial Insurance (Conventional)Takaful(Islamic)
3 INSURANCEA policy from a large financial institution that offers financial protection against future losses or damages.TAKAFULIs an Islamic insurance concept which is grounded by observing the rules and regulations of Islamic law. (license)
4 Life Insurance Medical Insurance General Insurance Others
5 Insurance : buy and sell contract. Takaful :donation contract. Concept:Insurance : buy and sell contract.Takaful :donation contract.
6 Commercial INSURANCE Al-Gharar (Uncertainty) Al-Maisir (Gambling) Riba (Interest)