Abstract
Purpose: This paper explores the role of risk sharing model contribution to growth of Takaful by investigating the factors that develop and evolve role of risk sharing over risk shifting. Design/Methodology: The paper review the role of risk sharing model contribution to growth of Takaful by investigating the factors that develop and evolve role of risk sharing over risk shifting by reviewing an existing Islamic literature reviews. Findings: Takaful has demonstrated evidence that it can boldly go places and succeed where classical insurance has not been able to succeed. Even that the Takaful industry is considered today as a small industry, it has all the potential to growth and dominate the insurance market especially in Muslim countries. Research Implication: The paper shade the light about the role of risk sharing model influence to growth of Takaful. As well, evolve role of risk sharing compare to risk shifting. Originality/Values: Analysis the role of risk sharing model contribution to growth of Takaful is relatively new in Islamic finance literature. This conceptual paper on Takaful also gives some new insights into the existing Islamic literature.
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