Takaful Insurance on Bank Deposits Between Jurisprudential Perception and Application Opportunities in Morocco

Abstract

The research paper dealt with the legal adaptation of insurance methods for both types of bank deposits (deposits as debt and investment deposits), whether with Takaful insurance companies or with deposit insurance institutions. Or with the Participatory Banks Deposit Fund, in addition to that, the scientific paper highlighted the importance of activating takaful insurance on deposits - especially within the participatory banks - in developing the banking sector and achieving economic and social growth in Morocco. The research paper suggested some solutions concerning the Takaful (solidarity)insurance on the deposits of the participating banks, including the establishment of an insurance fund based on solidarity and donation among the participating banks, to avoid the drawbacks of the existing fund, and to enhance protection for their deposits. In conclusion, the research paper concluded with a set of results, including that the new Moroccan banking law, despite being in an advanced stage in terms of guaranteeing bank deposits by creating a new fund for guaranteeing the deposits of participatory banks, to protect them from usurious dealings, and alerted to a set of problems that The traditional fund was affected by, still, it failed to provide adequate protection for bank deposits, which requires thinking about establishing a Takaful insurance fund on bank deposits that achieves adequate protection for them of all kinds, with the aim of contributing to the development of these banks, and achieving economic and social growth in Morocco.