Takaful plays an important role in many people’s lives. It l provides a financial protection for individuals, families as well as enterprises against risks (Manual peperiksaan asas wakil Takaful Nasional). In the business enterprise sector, insurance makes business more efficient and can ensure that a business will prevail in terms of its concepts. The insurance industry has grown tremendously since businesses and the public have realised the importance of Takaful and financial planning. In this chapter, several issues are analysed in terms of the role of Takaful in protecting the wealth of mutual fund holders or unit trust holders in Malaysia, which has a lot to do with risk and the return issue of an asset in the market. The success of the mutual fund industry, especially Shari’ah-related funds, in Malaysia is also reliant upon how fund managers manage the risks of any asset in their portfolio.