Takaful: chronology of establishment in 47 countries

Purpose From 1979 to 2023, the takaful structure has been adopted in many jurisdictions, making documenting of its early days establishment relatively difficult and somewhat unreliable. This is unlike conventional insurance, where history legislation are well documented archived various research (Hellwege, 2016; Marano Siri, 2017). The purpose this paper provide a chronology for development via each jurisdiction, first operator regulation. Design/methodology/approach used qualitative method form reviewing literature available data such as journals, books official resources. thoroughly analysed order build takaful. It an exploratory design, which deemed suitable situations few works have examined subject (Neuman, 2014). explores non-establishment 57 countries. categorises countries into seven regions starting with GCC, Levant, Asia, Central Africa, Europe Others. Findings presented shows that operations exist 47 from Sudan UAE 1979, most recent adopters being Morocco Iran December 2021. found 22 jurisdictions do not regulations, Takaful Act 1984, issued Malaysia, considered regulation sets basis other regulations follow. Originality/value contributes by providing comprehensive takaful, especially existing timelines be incomplete consist contradictory information.