Requirements for de development of Takaful insurance in Algeria in the light of the Malaysian experience

Abstract

The insurance sector in Algeria tends to new phase of the insurance industry after the Takaful insurance entered this sector with the issuance of Executive. Decree 21/81 of February 23, 2021 specifying the modalities of practicing Takaful insurance, which has become an imperative in light of the stagnation of the insurance sector due to suspicions of deception and usury surrounding insurance. commercial. This research paper aims to determine the requirements for the growth of Takaful insurance in the national market in light of the dominance of commercial insurance, taking the Malaysian experience as a model. This study concluded that the development of Takaful insurance in Algeria requires primarily the development of the legal system its own and those of Islamic banking, and interest in the formation of professional cadres in these two areas and work on insurance awareness and diversification of the takaful product.