Takaful is a co-operative system of reimbursement or repayment in case of loss, paid to people...
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Takaful is a co-operative system of reimbursement or repayment in case of loss, paid to people and companies concerned about hazards, compensated out of a fund to which they agree to donate small regular contributions managed on behalf by a takaful operator. a. Under Family Takaful, there are two types of account namely Participant Account (PA) and Participant's Special Accounts (PSA). Define and differentiate these two (2) accounts. (5 marks) b. Explain briefly any two (2) essential of Takaful. (5 marks) Takaful is a co-operative system of reimbursement or repayment in case of loss, paid to people and companies concerned about hazards, compensated out of a fund to which they agree to donate small regular contributions managed on behalf by a takaful operator. a. Under Family Takaful, there are two types of account namely Participant Account (PA) and Participant's Special Accounts (PSA). Define and differentiate these two (2) accounts. (5 marks) b. Explain briefly any two (2) essential of Takaful. (5 marks)
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A The Participant Account PA is the account where the participants contributions and the takaful ope... View the full answer
Related Book For
Matching Supply with Demand An Introduction to Operations Management
ISBN: 978-0073525204
3rd edition
Authors: Gerard Cachon, Christian Terwiesch
Posted Date:
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