Malaysia Takaful Act

The Malaysia Takaful Act regulates Islamic insurance (takaful) to ensure it operates fairly, transparently, and in accordance with Shariah principles. It sets legal standards for the formation, licensing, and supervision of takaful operators, protecting policyholders' rights and promoting confidence in the industry. The Act also addresses the responsibilities of takaful managers and the handling of contributions, claims, and risk pooling, ensuring the industry functions ethically without compromising Islamic values. Overall, it provides a legal framework that supports the growth and integrity of takaful services in Malaysia.