A significant growth in the global takaful industry has bben observed over the last few years. According to the Ernst & Young World Takaful Report 2012, global takaful contributions show an increase of 19% to $8.3 billion in 2010. $5.68bn of these contributions belong to GCC. Nevertheless, it is a key challenge for takaful players in the Middle East to maintain the growth momentum while boosting profitability.