SOURCE OF INCOME FOR OPERATOR

What is wakalah fee?

• A fee participants joining the Takaful plan

• A management fee charged by the operator

• A donation by the participants

• A fine for late payments

All of this is related to sources of income for TO, except:

• Surrender charge

• Surplus

• Remuneration from investment fund

• Late payment compensation

What role does the mudharabah model play in generating income for a Takaful Operator?

• It shares investment profits between the TO and participants.

• It charges a penalty fee for missed payments.

• It allows the operator to take full ownership of the fund.

• It collects donations from participants.

Why is it important for a Takaful operator to ensure that performance fees are only taken when the participants' surplus is paid or accrued?

• To maximize the operator's profits.

• To ensure fairness and transparency in the distribution of funds.

• To reduce the participants' benefits.

• To avoid paying any fees to the participants.

Which section in IFSA mentions seperation of shareholders' and operator's funds?

• 90

• 91

• 92

• 93