Please read the attached pdf
Kindly answer the following questions.
What is the most important feature that distinguishes takaful from conventional insurance? (5 marks).
Explain briefly the difference between a pure wakalh model and a pure mudarabah model in Islamic insurance. (5 marks).
How the author consider the relationship between policyholders and TOs as a principal-agent model. (5 marks)
What are the main conclusions of this paper? (5 marks)
Please note that the country that we are talking about here is Saudi Arabia.
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