Potencijali razvoja Takaful - islamskog osiguranja u BiH
Potential of Development for Takaful - Islamic Insurance in Bosnia and Herzegovina

Summary/Abstract: In the modern world, insurance companies provide a wide range of products in order to meet various needs of their clients. Usage of insurance is broadly accepted as a significant component of strong and dynamic economy and also as an effective means of alleviating financial burden due to unexpected events. The prime objective of this paper is to present Takaful-Islamic insurance, its concept, legal sources, prime features and principles as well as to give a short overview of the past development and indicate possibilities of its practical side. A particular focus of this paper would be on basic types of Takaful products that are nowadays applied in the modern business world, as well as the potential of applicability of Takaful insurance in Europe and Bosnia and Herzegovina.. Taking into consideration complicated circumstances to apply Takaful insurance in conventional financial markets and also positive future outlook for further insurance market development, the research results have shown that there is acceptable market potential to develop Takaful Islamic insurance in Bosnia and Herzegovina. Key words: Takaful, Islamic insurance, cooperation, mutual fund

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