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Glossary

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C

  • Certificate document,An evidence of a contract between a participant and a Takaful operator which sets out the terms and conditions of the particular certificate
  • Claims,Notification to a Takaful operator that payment of an amount is due under the terms of the certificate.
  • Claims ratio,The ratio of net claims incurred to earned contributions.
  • Contributions,Monetary contribution provided once or periodically by a participant to a Takaful operator for the purpose of investment and Tabarru'.

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