The BMA acknowledges that the nature of takaful and the operation of a takaful business are not entirely equivalent to and in some respects different from a conventional insurance business. The specific rules and guidance set out in this chapter aim not only to allow takaful firms to operate in Bahrain within the BMA's insurance regulatory regime on a basis consistent with conventional insurers but also to recognize some of the differences in takaful that are relevant to the way in which takaful business is carried on.