Part I: introduction to takaful: form, function and criticism -- 1. Takaful journey: the past and present and future / Ajmal Bhatty and Shariq Nisar -- 2. Solidarity, cooperation, and mutuality in takāful / Volker Nienhaus -- 3. Mutuality, reciprocity, and justice within the context of a unified theory of riba and ghara / Mahmoud A. El-Gamal -- 4. A proposed marriage between endowments, mutual insurance, and the institution of agency in Islamic law: an introduction to the waqf-wakalah model of takaful / Abdullah Nana -- 5. A critical shari'ah review of takaful structures: towards a better model / Abdulazeem Abozaid -- Part II: regulatory environment and legal aspects of takaful -- 6. New horizons: the potential for shari'ah-compliant cooperative and mutual financial services / Sara E. B. Carmody -- 7. Toward a watershed in takaful dispute resolution: from litigation to effective dispute management / Umar A. Oseni -- 8. Fatwā and its role in regulatory capture and arbitrage / Joe W. Bradford -- Part III: takaful product analysis -- 9. The nature of retakaful: risk sharing or transferring risks? / Abu Umar Faruq Ahmad; Ismail Bin Mahbob; and Muhammad Ayub -- 10. Commercial credit takaful / Muhammad Al Bashir Muhammad Al Amine -- 11. Shari'ah compliant high watermark protected lifetime annuity in family takaful? / Hiba Allam and Volker Nienhaus -- Part IV: takaful as social finance -- 12. Reimagining takaful: a new model for social banking / Hussam Sultan and Abdur-Rahman Syed -- 13. Islamic co-operatives: a route to poverty alleviation and economic development / Mian Farooq Haq and Bushra Shafiq -- 14. Scaling poverty reduction in indonesia: enhancing the institutional effectiveness of islamic microfinance institutions / Tanvir Ahmed Uddin and Muhammad Maaz Rahman -- 15. Micro-takaful in India: a path towards financial inclusion & sustainable development / Mohammad Faisal, Asif Akhtar, Asad Rehman and M. Abdul Samad.