The Three Basic Concepts of Mutuality Embodied in the Takaful

question 47

True/False

The three basic concepts of mutuality embodied in the takaful model of insurance are: mutual help, mutual responsibility, and mutual financial interest.

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Definitions:

Revolutionary

Pertaining to or involved in bringing about a radical change in society or an existing system, often through dramatic means.

Reformist

An advocate for gradual and systematic changes within a system to improve it, without overturning the entire system.

Convergence Theory

The hypothesis that as societies develop, they begin to converge, or become more similar, in terms of social, economic, and technological aspects.

Power of Groups

Refers to the ability of groups to exert influence or control over their members and others, shaping behavior, norms, and decision-making processes.