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The purpose of this chapter is to provide a description of the integration of Takaful in the domestic market, based on experiences in regional markets, focusing on the explanation of factors that could enhance the position of Takaful in certain areas.

The chapter describes the evolution of Takaful insurance in international and regional markets, and explains the articulation of this product in these markets. The chapter also provides an analysis of the Algerian market characteristics related to the Takaful product.

This work will be based on an analytical research of emerging markets and their success factors; then it will be necessary to provide an overview of the product containing Takaful; and finally we will try to follow the experience of the national insurance market with the new product, supplied by the Salama Company, and determine the potential of Algeria in this area.

This work offers an opportunity to understand the mechanisms needed to activate the local market and opens the prospects for effective integration of Islamic financial products gradually, in order to prepare for changes that would provide more financial products suited to the requirements of social development in the Algerian economy.

From 1979 to 2023, the takaful structure has been adopted in many jurisdictions, making the documenting of its early days of establishment relatively difficult and somewhat unreliable. This is unlike conventional insurance, where the history and legislation are well documented and archived in various research (Hellwege, 2016; Marano and Siri, 2017). The purpose of this paper is to provide a chronology for the establishment and development of takaful via the takaful establishment in each jurisdiction, documenting its first takaful operator and first takaful regulation.

This paper has used a qualitative method in the form of reviewing literature and available data such as journals, books and official resources. The data is thoroughly analysed in order to build the chronology for takaful. It adopted an exploratory research design, which is deemed suitable in situations where few works of literature have examined the subject (Neuman, 2014). The paper explores the establishment and non-establishment of takaful in 57 countries. The paper categorises the countries into seven regions starting with the GCC, Levant, Asia, Central Asia, Africa, Europe and Others.

The takaful chronology presented in this paper shows that takaful operations exist in 47 jurisdictions, starting from Sudan and the UAE in 1979, with the most recent adopters being Morocco and Iran in December 2021. It is found that 22 jurisdictions do not have takaful regulations, and the Takaful Act 1984, issued in Malaysia, is considered the first takaful regulation that sets the basis for other regulations that follow.

The paper contributes to the literature by providing a comprehensive chronology of takaful, especially as the few existing timelines have been found to be incomplete and consist of contradictory information.

The main objective of this paper is to highlight the unprecedented growth of Islamic banking and finance in the contemporary finance world. It captures the advancements of Islamic banking and finance industry across the tools, systems, sectors, markets and over 75 countries from Africa, Asia, Europe and North America.

The paper deals with the paradigm of Islamic banking and finance. It constitutes a general review that bears special features, facts and figures over the recent developments of Islamic banking and finance across the globe. It takes stock of the growing institutional and infrastructure support for the Islamic banking and finance system in Muslim countries and Western financial markets.

The findings of the paper hold that Islamic banking and finance industry has been making breakthrough improvements to become a truly viable and competitive alternative to conventional systems at the global level. Islamic banking and finance institutions have acquired booming grounds in the Middle East, South East and South East Asia. These growing Islamic hubs have been acting as a launching pad to promote Islamic banking in Western business and financial markets. There are some core factors contributing to the recent success of Islamic banking and finance, such as spiraling oil prices worldwide, prolonged boom in the Middle Eastern economies, product innovation and sophistication, increasingly receptive attitude of conventional regulators and information technology advancements that have been acting as a catalyst for the Islamic banking and finance industry to go global. Given all growth patterns, Islamic banking may be able to win over the majority of customers from the Muslim world that constitutes almost 24 per cent of the world's population (over 1.3 billion), and other ethical groups across the globe in times ahead.

The paper takes stock of on‐going developments in Islamic banking and finance industry worldwide. It deals with latest information, facts and figures, which however do not amount to a substantive volume to allow statistical testing and analysis to figure out the main factors and their actual contributions in making Islamic banking and finance emerge as the fastest growing industry of the global finance. This paper mostly bears a subjective outlook.

The paper aims to attract the global attention towards the fastest growing industry of the contemporary world of finance. It presents the case of the Islamic banking and finance industry in the most powerful, comprehensive and logical fashions to remove all misgivings about it in some circles, and let it be seen as an industry adding more ethical, competitive, flexible and diversified tools and systems to global financial markets. The paper highlights the increasing moral and material support that Islamic banking has been enjoying from Muslim governments and the public, and Western market players and regulators. It draws attention towards the growing number of products, systems, infrastructures and supporting institutions of Islamic banking over the recent years. The current trends of Islamic banking industry worldwide captured in this paper can tell all about its strength and weakness, future prospects and ambitions to become a truly innovative, competitive and integrated part of contemporary global finance.

This paper aims to present an actuarial model of takaful to cover death and permanent total deficit of contributors benefiting from Mourabaha financing for real estate, taking into account modern takaful systems around the world. The main goal of this paper is to design an optimization program that helps to obtain a marketable and profitable takaful product by using the retakaful as a safety and technical support tool.

The study adopts an actuarial approach for determining takaful contributions and optimal choice of an adequate form of retakaful to maximize the technical surplus of a takaful company. A resolution method based on genetic algorithms is also developed to solve the optimization program.

This actuarial model allows to provide high added-value support to takaful and Islamic finance and also reassures clients of purchasing real estate through the Mourabaha product.

It should be noted that the choice of an effective Islamic borrower insurance product (takaful borrower) obviously depends on the strategy adopted by the takaful operator (type of takaful, pricing, experience and statistics observed, etc.), the form of retakaful, the behavior of the participants and the nature of the portfolio. Moreover, the program developed in this paper is suitably affordable and is closely linked to the hypotheses.

The strong point of the present program relies on the case where the reinsurer establishes itself as a partner of choice and to enrich the takaful fund. In addition, the actuarial tools used in agreement with genetic algorithms have made it possible to optimize with efficiency and ease of calculation.

Technology development quality in architectural design is affected by the quality of the process and factors used to develop it. The purpose of this study is to investigate the factors for effective enhancement (EE) of technologies in design process improvement (DPI).

Major databases have been explored to identify a list of factors affecting technology development in DPI because of the main elements of architecture design education. Then, a survey-based empirical study has been done in two high-rank architecture schools (one in a developing country and one in a developed country), during the years 2015–2018. Data have been collected from analyzing the design process, design reviews, design team viewpoints, researchers' observations and organizations' features about the development of production, conceptualization and communication technologies in DPI initiatives. Both quantitative and qualitative approaches have been utilized to provide deep contextual data.

Comparative analysis of the groups showed that high levels of EE of technologies lead to high levels of DPI, and these are because of the positive performance of conceptualization, communication and production technologies.

Comparing two groups, the category of design process and the factors related to the design stages of ask, imagine and improve approved to be the right factors to use technologies in more effective ways. Efficiency in collecting information and doing research, efficiency in developing solutions, efficiency in communicating results, team processes and organization communications have been rated top most effective factors based upon overall categories.

Although 76% of the population of the United Arab Emirates (UAE) is Muslim, takāful (Islamic insurance) has a much smaller share of business in the UAE than conventional insurance does. The purpose of this study is to highlight the importance of brand equity (BE), which is known as the incremental value that provides reason to buy a brand. This study provides useful insights that can help the health takāful industry to gain a feasible market share in the UAE.

This is a quantitative study in which stratified random sampling was adopted for data collection from 300 respondents through a self-administered questionnaire from August to November 2018. Underpinning the study is the theory of planned behavior (TPB) and the structural equation modeling (SEM) technique has been used to examine the impact of BE on purchase intentions (PI) through the moderating role of demographic factors such as age, income, education and religion. Three dimensions of BE, i.e. brand awareness (BAW), brand association (BAS) and perceived quality (PQ), are evaluated in terms of their significance as dimensions of BE.

The major findings of this study confirm that BE has a strong positive influence on the PIs of health takāful customers in the UAE and that all three dimensions of BE make significant contributions to the overall BE. The results show that education does moderate the relationship between BE and PI while age, income and religion do not. A new finding of this study is the nonsignificant moderating role of religion, whereby it was found that takāful products in the UAE are not limited to Muslim customers but can include potential customers who are followers of other religions.

To the best of our knowledge, the present study is the first of its kind to examine the impact of BE on the PI of health takāful customers in the UAE. The findings of the study give academia, researchers and marketers a better understanding of the importance of BE and of its vital role in promoting takāful products in the Gulf Cooperation Council (GCC) countries such as the UAE.

The purpose of this paper is to offer an alternative conceptualisation of commercial insurance that is based on service thinking and compares it to the ideas flowing from goods thinking that currently appears to be a dominant mindset.

When deliberating on commercial insurance, Muslim jurists and scholars followed a misleading route of logical reasoning that is based on comparing insurance to other approved commercial contracts within Islamic Law. In this paper, the author questions such reasoning by contrasting the framework of service thinking to that of goods thinking.

The alternative framework proposed in this paper repositions commercial insurance as a unique type of service (rather than a good). It shows that commercial insurance can be seen as a bundle of benefits, which unfold in a gradual, intermittent, sporadic manner depending on the circumstances. This mode of a servicing relationship focuses on harm removal rather than the opportunistic actualisation of unfair monetary gain. Insurance premium is conceptualised as an availability fee, while compensation payout is recast as the restoration of value.

Muslim jurists and marketing practitioners can use this framework to further scrutinise the permissibility of different varieties of commercial insurance in the contexts of both Muslim and non-Muslim majority countries. As service thinking radically repositions the essence and structure of commercial insurance, the views on the relevance of “gharar” and “riba” may undergo significant re-conceptualisation. Moreover, the design of takaful options can be improved on this basis.

Service thinking can better elucidate a positive societal role of commercial insurance that is in accord with the societal and Islamic maxim of harm removal. Some objections to commercial insurance relate to public policy failures. Well-regulated commercial insurance industries can substantially contribute to the economic development of impoverished societies.

This paper exemplifies compelling power as well as potential of the discipline of Islamic marketing in contributing to significant debates concerning the permissibility of modern commercial options.

The purpose of this study is to extend previous literature and examine risk management efficiency among Takaful (TI) and conventional insurance (CI) firms in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE). This study also aims to determine whether Takaful firms are more efficient in managing risks, compared to CI firms.

This study examines risk management efficiency among Takaful and CI firms in the KSA and the UAE for a sample of 20 insurance firms comprising 10 TI firms and 10 CI firms for the period 2018–2020. The authors use Data Envelopment Analysis to estimate efficiency scores among insurance companies to compare risk management efficiency between CI and TI companies and apply two-way analysis of variance to statistically analyze the data.

The results of this study show that TI firms have a higher efficiency score than CI firms, but not significantly and that insurance firms in KSA have higher efficiency scores than insurance firms in UAE. The results also reveal that TI firms did not significantly outperform CI firms in managing risks; however, there is a significant difference in efficiency scores among insurance firms in KSA and UAE.

The authors also contribute to the literature by providing important insights into how the operational business environment of the country can influence the risk management efficiency of CI and TI companies.

This study promotes understanding the insurance industry, its efficiency and risk management, thus offering key implications for decision-makers, regulators and managers associated with the insurance industry in UAE, KSA and other emerging insurance markets. Regulators could provide enabling policies that foster and promote the business environment, as there is a need to improve risk management efficiency in the insurance industry. Also, the results of this study show that the operating status of the UAE insurance industry in terms of efficiency and risk management is lower than that of KSA. Hence, it would be useful for UAE managers and regulators in taking steps to improve the overall insurance industry market.

The results of this study make significant contributions by providing new insights to the existing literature on the risk management efficiency in the insurance industry, as it adopts a different methodological approach that examines risk management efficiency among TI and CI companies.

This paper aims to examine the development of Islamic accounting education and discuss the main challenges facing this specific type of accounting education in the United Arab Emirates (UAE).

The paper uses institutional theory to analyze the development of Islamic accounting education in the UAE. The collection of information in this study is based on secondary data available from published sources and websites.

This study identifies three types of institutional pressures. First, coercive pressures that were directed by the government, the UAE's Central Bank and other professional bodies [e.g. Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI)] involved in the Islamic banking industry have contributed to the development of Islamic accounting education in the UAE. Second, mimetic pressures exerted by other countries that have already established Islamic accounting training and programs (e.g. Indonesia, Iran, Kingdom of Saudi Arabia and Pakistan) have incentivized the UAE business schools to implement Islamic accounting training and programs to meet Emirati Islamic banking industry expectations. Third, normative pressures are exerted by Big 4 auditors who have an active position as faculty members, influencing status in AAOIFI and a dominant position in the Islamic banking industry’s audit market. The paper also discusses the main challenges facing Islamic accounting education in this country.

This paper contributes to accounting literature in general and accounting education literature in particular in the following two ways. First, this study applies an institutional analysis to Islamic accounting education in the UAE to gain more understanding about the current status of the development of Islamic accounting education in the UAE. Second, by identifying the factors that may constrain the development of Islamic accounting education in the UAE, this study provides recommendations to financial and higher education authorities to undertake proactive actions to position the UAE as a leading center in Islamic accounting education and training.