Takaful Insurance in Algeria Prospects and Challenges "The Experience of Salama Insurance Company

Abstract

This paper aims to spotlight the subject on the issue of Takaful Insurance. This study will take us through various dimensions, first we will illustrate the concept of takaful islamic insurance as a methodology to mange and control the risk which came to replace the traditional concept of commercial insurance. We will also discuss the reality of Takaful insurance in Algeria through the experience of Salama Insurance Company. This is by attaining the most important achievements and the position it occupies through more than 15 years of work in the field of insurance. We will also meet the most important challenges and issues facing the Islamic financial industry in Algeria in general and industry Takaful insurance in particular, as well as the ways and means of success, methods and mechanisms that would attract and support the growth and prosperity of these industry in Algeria, especially the difficult financial conditions currently experienced by Algeria because of the decline in oil prices had to search for Lader new financing, including Islamic finance.