Fares Djafri (The Algerian Network for Academics, Scientists & Researchers, 2016)
The Islamic insurance sector or akaful has seen remarkable global growth in many major markets, especially in Muslim dominated countries. However, the development of Islamic finance, particularly takaful in Algeria appears to have lagged behind. Although there are two Islamic banks operating in Algeria, takaful is yet to be introduced into the Algerian financial market. We ran a study to investigate the perspective of Algerian experts in Islamic finance and takaful on the issues and challenges of introducing Islamic insurance into the Algerian financial market to address the following questions: What are the benefits of introducing Islamic insurance into the Algerian financial market? What challenges might Algeria face with the introduction of Islamic insurance? And how can the Algerian financial market adopt the Malaysian Islamic insurance framework?
