Global Takaful market to reach $25 billion in 2015, says E&Y
Ernst & Young's experts stated at the International Takaful Summit 2011 in London that Takaful is only one per cent of total global insurance market but Muslims are 20 per cent of the world's population.
Abid Shakeel is the one that spoke at on 'Takaful - the default option for Muslim countries' at the summit. He underlined the fact that the legislation in the Islamic countries that makes Takaful products the preferred choice among insurance products can place the industry on a completely different level. He added the fact that growth in the GCC is primarily driven by compulsory insurance rather than only voluntary policies.