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It means Guarantee. In Islamic Banking terms this means, insurance against loss, i.e. the institution and/or its partners will inject money to guarantee that no loss happens or a negative balance sheet is not maintained. It has multiple meanings depending on which particular Islamic Banking field it is being applied to: Mutual Funds, Equities, Financial Services company, Banking, Investment Banking, etc. with each having its own applicability of the word "Guarantee".
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What is the difference between conventional and takaful?
Takaful Ta'awuni is a system of mutual cooperation for financial assistance and protection based upon the Quranic principles of "Ta'awuni, or mutual assistance." Takaful is a noun stemming from the Arabic Verb "Kafala" meaning to guarentee. Takaful means mutual help among the group i.e. each member of the group pools resources and efforts to support the needy participants within the group. This help is how the fortunate many assist the unfortunate few. As an Islamically acceptable alternative to conventional insurance, Takaful Ta'awuni enables every participant to create a solid financial protection and saving plan for himself and family. In this way, as a participant in one or more Takaful Ta'awuni Plans, you can secure spiritual well-being, protect the living conditions of your family and accumulate savings towards financial independence and a comfortable retirement, without any involvement in conventional financial products, which often contain elements prohibited in Islam.
Islamic meaning of the name joon?
Means "Dear" or "honey" and its not Islamic its Persian, its not religion related
What is the meaning of finance charges IPP?
Finance charges-ipp
What is the meaning of Islamic Tourism?
Islamic Tourism means tourism of Islam
What are meaning of usuluddin in mphil Islamic studies?
Fiqh-Islamic Jurisprudence
What is the Islamic meaning of kamran?
successful
What is American meaning of Islamic word FATWEHS?
A fatwa is a ruling based on Islamic law.
What is the Islamic meaning of akthar?
Its the Pashto language word, which means (Eid), an Islamic ceremony.
What the meaning of financial?
Pertaining to finance.
Does Islamic Tile have a special meaning?
yes some times an Islamic tile can have a special meaning such as: it reprisents a new life and a new beginning. :)
What is the meaning of sufiyan in Islamic quran?
sufiyan
What is a Islamic priest called?
An Imam meaning " leader"
