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The need for creating gold based / and multi-currency based domestic re-insurance pools, in each designated market of operation is essential for the very nature of insurance business. This is a business that is determined on the law of probability. In Pakistan, premia-contributions for acquired risks, without securitization of assets, have seen a traditional loss of 30% max. of the direct premium receipts (at an average) over the last four decades. This means we as a poor, so-called third world country, are subsidizing the economies of the developed world. This is improper! Creation of domestic and international reinsurance pools are constantly necessary and we have put our first such product DAULAT in place. The ‘assumption of risk’ and the ‘meeting of claim’ are both taken as external (to the capital) factors and therefore pegged one against the other. DAULAT, the Islamic re-insurance concept is a first, and classic instrument that can instantly meet liabilities assumed with out suspicion and counter surveillance. If a risk is assumed and there is a loss the insurance company will and must pay. More; the size of the risk is no more an issue! We can assume a risk of any size to the entire comfort of the insured! Much like Islamic banking, which is real asset based money management Islamic insurance propounded here is real asset based risk assumption, creating an ever-growing capital resource pool in each designated market.

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