3 articles tagged “Takaful”

Southern Cross is a member-owned friendly society and nib is part of an ASX-listed group. What the public system and ACC already cover, the fiqh of mutual versus commercial cover, and a verdict by household.
About 84 insurers are licensed in New Zealand and not one is Shariah-compliant. No takaful operator has ever been licensed here. The gap itself is the market fact.
Classical scholarship objects to conventional insurance on gharar and riba grounds, and takaful is the designed answer. New Zealand has never had takaful. Here is the framework that fills the gap.