Abstract:

Objective
The objective of this paper is to highlight both the risk management aspects and the governance issues being faced by Takaful business in Pakistan.  In the process try to focus on the key issues and draw a suggestive map which is intended to provide some suggestive steps in overcoming such issues. 

Purpose
It is important to note that Takaful in Pakistan can be best described as:at the nascent stage.  The intended purpose of the writers is to trace initial surfacing of Takaful business in Pakistan, trace the short period that it has traversed and what holds for the future of Islamic mode of insurance: vis a vis Risk Management and Governance Issue.