Underlying Contracts in Takaful

Question 1

GENERAL CLASSIFICATIONS OF CONTRACT IN ISLAM

Answer 1

1. Charitable contracts

2. Profit making based contracts

Question 2

CLASSIFICATIONS OF CONTRACT

Answer 2

1. Exchange
2. Investment
3. Security
4. Agency
5. Commission
6. Safe-custody
7. Charity

Question 3

UNDERLYING CONTRACTS IN TAKAFUL

Answer 3

1. Among participants
   
   • tabarru’
   • waqf
2. Participants and Takaful Operators
   
   • Mudarabah (Partnership)
   • Wakalah (Agency)
   • Wadiah (Safe-keeping)
   • Ju’alah (Commission)
   • Ijarah