IFMP Bancatakaful Certification (BTC), Pakistan Practice Questions - IFMP Bancatakaful Certification (BTC), Pakistan Exam

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In a Takaful model, what is the primary contract participants enter into with each other when contributing to the Takaful fund?

Murabaha (cost-plus financing) Ijarah (leasing) Tabarru' (donation/charity) Mudarabah (profit-sharing partnership)

Correct Answer:

Tabarru' (donation/charity)

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