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The Role of Takaful Insurance in Enhancing the Quantitative Development of the Islamic Finance Industry

Author

Listed:
  • Houssem Krache

    (Department of Financial and Accounting Sciences, LEMAC Laboratory, Setif 1 University – Ferhat ABBAS, Algeria)

  • Hassiba Almi

    (Department of Economic Sciences, DEHALG Laboratory, Badji Mokhtar – Annaba University, Algeria)

  • Raed Awashreh

    (Business Administration, A’Sharqiyah University, Ibra, Oman, Jordan)

Abstract

Subject and purpose of work This study aims to determine the role of the Takaful insurance sector in enhancing the quantitative development of the Islamic finance industry. Materials and methods It addresses the theoretical aspects of Takaful insurance and the Islamic finance industry, presenting methods for evaluating the development indicator of this industry in general and quantitative development in particular. Results The study then examines how Takaful insurance contributes to this development during 2017-2023. Conclusions The findings indicate that improvements in the development metrics for the Takaful insurance sector play a role in raising this indicator and simultaneously contribute to enhancing the main indicator for the quantitative development of the Islamic finance industry.

Suggested Citation

  • Houssem Krache & Hassiba Almi & Raed Awashreh, 2025. "The Role of Takaful Insurance in Enhancing the Quantitative Development of the Islamic Finance Industry," Economic and Regional Studies / Studia Ekonomiczne i Regionalne, Sciendo, vol. 18(2), pages 234-253.
    • Handle: RePEc:vrs:ecoreg:v:18:y:2025:i:2:p:234-253:n:1009
    DOI: 10.2478/ers-2025-0019
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    Keywords

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    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • P43 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Finance; Public Finance
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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