Salama takaful provide a broad range of Islamic insurance ( takaful ) , general and customized insurance
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Question:
Salama takaful provide a broad range of Islamic insurance takaful general and customized insurance products and services to individuals, families, groups, and companies in the UAE market. Given the huge success of Salama Takaful, you have signed a takaful contract with them. Salama takaful company divides the contributions in profitgenerating investments and the participant risk fund in equal proportion. The year is an unusual year for Salama Takaful company due to global financial turmoil and led to huge losses for Salama Takafuls investments. The situation further deteriorated due to a large number of participant claims, that exceeded their reserves. Consequently, Salama Takaful company is in deficit this year. You have been hired by Salama Takaful as an Islamic finance expert to devise a shariacompliant solution for this situation so that to meet participant claims as well as ensure the future wellbeing of the company? Please provide complete details on all the possibilities in this situation.
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