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A Comparison Of Islamic Insurance Takaful And Conventional Insurance
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Book Synopsis A Comparison of Islamic Insurance (Takaful) and Conventional Insurance by : Valérie Loher
Download or read book A Comparison of Islamic Insurance (Takaful) and Conventional Insurance written by Valérie Loher and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an overview of the Islamic insurance market, its principles, its business models and its current role within different countries of the GCC and South-East Asia. The focus is thereby set on the comparison of the insurance sector of selected countries to Switzerland on industry as well as on firm level. The sample includes 6 countries and 27 life and non-life Islamic insurance providers. Based on the determinants of success of an insurance company, different variables are evaluated and the companies contrasted with each other. The results of this analysis show that despite the high growth rates of Islamic insurance companies, the GCC sample countries exhibit lower cost ratios coupled with higher underwriting efficiency and overall profitability compared to Swiss insurers. The main reason for these findings on firm level is the lack of insurance awareness. This reduces the initial demand for insurance and - more importantly - the use of insurance benefits of people already insured. Due to this circumstance, insurance providers are able to settle the small pool of claims by allocating fewer resources to screening, monitoring and reviewing the insured and their claims. Moreover, it is shown that the size of investments undertaken by Malaysian companies exceeds those undertaken by companies in the Gulf region significantly. These missing investments might become noticeable and jeopardize the performance of Gulf insurance companies once the awareness elaborates.
Book Synopsis Takaful Islamic Insurance by : Simon Archer
Download or read book Takaful Islamic Insurance written by Simon Archer and published by John Wiley & Sons. This book was released on 2011-12-30 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Authors Rifaat, Archer and Volker bring an international perspective to the growing Islamic Insurance industry. Drawing on contributions from leading experts around the world, they present a comprehensive view of the very issues governing the industry and its future direction. As top financial institutes around the world seem to enter the lucrative Takaful markets, this timely book offers crucial background information and advice, invaluable for any serious player in the market.
Book Synopsis Consumer Preferences for Takaful and Conventional Insurance by : Aysha Al-Salih
Download or read book Consumer Preferences for Takaful and Conventional Insurance written by Aysha Al-Salih and published by . This book was released on 2000 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Encyclopedia of Islamic Insurance, Takaful and Retakaful by : Mohd Ma'Sum Billah
Download or read book Encyclopedia of Islamic Insurance, Takaful and Retakaful written by Mohd Ma'Sum Billah and published by Edward Elgar Publishing. This book was released on with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 10.0px Arial} The model of Islamic insurance policy is based on the principles of mutual cooperation, brotherhood and solidarity. This timely volume contradicts the widely-held belief that insurance policies oppose the teachings of Islam, exploring ways in which it coheres with Shari’ah law. The book explores Takaful, an insurance paradigm that is in accordance with Islamic principles and suits the needs of modern Islamic economies and communities.
Book Synopsis A Comparative Analysis of Conventional Insurance and Islamic Insurance (Takaful) in Malaysia by : Kamaruzaman Noordin
Download or read book A Comparative Analysis of Conventional Insurance and Islamic Insurance (Takaful) in Malaysia written by Kamaruzaman Noordin and published by . This book was released on 2001 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Islamic Insurance Products by : Mohd Ma'Sum Billah
Download or read book Islamic Insurance Products written by Mohd Ma'Sum Billah and published by Springer Nature. This book was released on 2019-08-28 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growth of Islamic finance today is undeniable given its services, product innovation, performance and achievements, with the Islamic insurance market being no exception; it has retained global market recognition in a parallel platform as Islamic finance moves forward. There is much written regarding the Islamic insurance system, but rarely do researchers present the various Islamic insurance products and their structures in one collective place. This book is a timely addition in meeting contemporary market demands by providing a much-needed overview of the Islamic insurance products and their Shari’ah compliant structures. This book would be of interest to academics, researchers, students and professionals who are seeking to understand the products offered.
Book Synopsis At the Hands of Fate: the Political Economy of Islamic Insurance by : Muhammad Sigit Andhi Rahman
Download or read book At the Hands of Fate: the Political Economy of Islamic Insurance written by Muhammad Sigit Andhi Rahman and published by Hilmia Press/Primedia eLaunch LLC. This book was released on 2020-04-02 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why have Islamic insurance systems developed well in some countries, but not in others? Malaysia is considered as Islamic insurance elite due to its relatively large number of operators it houses as well as the sustained growth of Islamic insurance sales within the country, while Indonesia and Pakistan are still in early stages of development. Analyzing the political and social history of Islamization of insurance systems in these three Muslim majority countries in Asia since 1980s, this book demonstrates the development gap between these countries on Islamic insurance results from; firstly, complex bargains made between various groups within each country polity, and those bargains are structured by the country's fundamental political institutions. Secondly, the gap is also an outcome of different societal transformations during the Islamization that 'produce Islam(s)' in these countries. The revival of Islamic principles in these countries does not only create Sharia-compliant financial products but produces Islamic norms, identities, ethics, and practices enacted in the way the communities manage their risk.
Book Synopsis Takaful Investment Portfolios by : Abdulrahman Khalil Tolefat
Download or read book Takaful Investment Portfolios written by Abdulrahman Khalil Tolefat and published by John Wiley & Sons. This book was released on 2013-03-20 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: A groundbreaking study of the investment portfolios of takaful companies, their general investment patterns, and their future investments The Islamic finance industry has witnessed remarkable growth over the last decade, and one of the most successful segments—poised for even greater expansion—is the Islamic insurance (takaful) industry. In Takaful Investment Portfolios, distinguished takaful scholar Abdulrahman Khalil Tolefat explores the investment portfolios of takaful companies in both the GCC countries and Malaysia, the tip of Islamic finance industry. Investigating the trends and patterns of investment of takaful companies, the book looks at shareholders as well as general and family funds to determine where these companies are investing today, and where they are likely to invest in the future. Presenting new and novel research on the investment patterns of takaful companies, Takaful Investment Portfolios covers the history of the industry and takaful models and how they work, and presents in-depth studies of both their real-world and desired portfolio investments. Presents unique new research into the investment portfolios of takaful companies in the GCC and Malaysia Examines the gap between desired and actual investment portfolios of takaful companies Explores expected areas for future investment Groundbreaking in its depth, Takaful Investment Portfolios is an unprecedented study of the investments of takaful companies.
Book Synopsis Conceptual Differentiation Between Takaful and Conventional Insurers by : Melbourne Fonseca
Download or read book Conceptual Differentiation Between Takaful and Conventional Insurers written by Melbourne Fonseca and published by LAP Lambert Academic Publishing. This book was released on 2011-07 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: The insurance industry has seen a recent growth in a market segment which prefers products and services that relate to the Islamic Society and the concept of mutual cooperation in abidance with the Islamic Laws. The reason for this growth is the existence of an alternative called as Islamic' insurance products provided by the Takaful insurance companies. Ever since the establishment of the concept of Takaful, the Takaful providers have been capturing the market in the Islamic community with this core competency feature in their products. There has been very little academic literature that compares the managerial and conceptual aspects of the conventional and takaful insurers. This book, therefore, compares 5 leading insurance/re-insurance companies in The Kingdom of Bahrain of which 2 are conventional companies, 2 are takaful companies and one practising both types of insurance. The analysis should help us understand how different these companies are and should be especially useful for individuals or organisations who are left with a choice to select either of the above two insurance providers.
Book Synopsis Fundamentals of Islamic Finance and Banking by : Syeda Fahmida Habib
Download or read book Fundamentals of Islamic Finance and Banking written by Syeda Fahmida Habib and published by John Wiley & Sons. This book was released on 2018-10-08 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive and fully up-to-date introductory textbook to Islamic finance and banking Islamic finance and banking is being used increasingly globally — especially in the regions of Middle East and North Africa, South East and South Asia. To cater to the need of trained Islamic finance staff, a large number of Educational institutions are beginning to offer courses, majors and minors in Islamic finance and banking. The major challenge faced by these institutions are suitable textbooks for both undergrad and post-grad levels and especially with the relevant instructor resources (PPTs, test bank, practice activities and answer keys). Luckily, Fundamentals of Islamic Finance and Banking is here to cover the most important topics related to Islamic finance and banking (IF&B) that are relevant for students of business, finance and banking. Offers an historical background of Islamic finance Covers the principles of Sharia Law as pertinent to finance and banking Provides in-depth discussion of the six key Islamic banking products: Murabaha, Mudaraba, Musharaka, Ijara, Salam and Istisna Discusses the Islamic insurance (Takaful) Gives an overview of Islamic investment, especially Sukuks Concludes with the global standing of the Islamic Finance and Banking industry Would-be colleges and universities offering this subject as a course within their finance and/or banking program can’t be without this invaluable guide.
Book Synopsis A Comparative Analysis of the Efficiency of Takaful and Conventional Insurance in Malaysia \\ International Journal of Excellence in Islamic Banking and Finance .- 2013, Vol. 3, No. 1 by : Muhammad Syafii Antonio
Download or read book A Comparative Analysis of the Efficiency of Takaful and Conventional Insurance in Malaysia \\ International Journal of Excellence in Islamic Banking and Finance .- 2013, Vol. 3, No. 1 written by Muhammad Syafii Antonio and published by . This book was released on 2000 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Comparative Study on Risk by : Noorul Azrin Md Nasir
Download or read book Comparative Study on Risk written by Noorul Azrin Md Nasir and published by . This book was released on 2014 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: Naturally. both conventional insurance and Takaful industries are exposed to risks. This study seeks to compare the compare the risks between conventional insurance and takaful. The study focuses primarily on three key risks. namely liquidity risk. operational risk and underwriting risk. The risks were measured using Mann-Whitney U Test and standard financial ratios commonly used for measuring the performance of insurance companies. namely Combined Ratio and Retention Ratio for Operational Risk. Liquidity Ratio and Technical Reserve Ratio for Liquidity Risk. and finally Claims Ratio and Expense Ratio for Underwriting Risk. A sample of six listed Takaful Operators and nineteen conventional Insurance operators in Malaysia were used for this study. covering the period from the financial year 2007 until financial year 2012. It is observed that based on Mann-Whitney U Test. conventional insurance operators have significantly higher combined ratio than Takajit! operators. while the Takaful operators have a significantly higher retention ratio than conventional insurance operators. In terms of liquidity. there is no significant difference in Liquidity Ratio and Reserve Coverage between Takaful operators and insurance operators throughout the study period. Takaful operators are spending more than conventional insurance firms to run their business. as the expense ratio for Takaful! operators is significantly higher than conventional insurance finm. Keywords: Takaful. Insurance. Liquidity Risk. Underwriting Risk. Operational Risk.
Book Synopsis Consumer Preferences for Takaful and Conventional Insurance by : Aysha AlSalih
Download or read book Consumer Preferences for Takaful and Conventional Insurance written by Aysha AlSalih and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Purpose: This paper examines differences between UK and Saudi Muslims who hold insurance policies, with a particular focus on their awareness and perceptions of Takaful and conventional insurance policies and their choice of policies.Methodology/Approach: The overall research approach involves a comparison of two countries, to identify important national differences. A structured questionnaire based on customer-oriented questions has been used in this study, to investigate factors influencing customers' choice between the Takaful and conventional insurance models and between the various products offered within each model. Differences in responses between the UK and Saudi Arabia are examined in the paperFindings: Respondents tended to be more aware of general Takaful products (such as household and motor insurance) than family Takaful products (such as life insurance and savings vehicles). Compliance with Shari'ah is more highly valued in Saudi Arabia than among UK respondents. Respondents in Saudi Arabia tend to differentiate Takaful from conventional insurance more than UK respondents, but paradoxically UK respondents report a greater uptake of Takaful than Saudi respondents.Research limitations/implications: The questionnaire was administered by e-mail, which reduces the ability to obtain a representative sample.Practical implications: The paper identifies a demand for Takaful products from Muslims in the UK that is at present having to be provided by overseas companies, hence suggesting a gap in the market.Originality/value of paper: This is the first study of consumer attitudes to Takaful in the UK, and the first to make use of a transnational comparison.
Book Synopsis Takaful Simplified: Pertinent FAQ for Quick Reference and Understanding (UUM Press) by : Saiful Yazan Ahmad
Download or read book Takaful Simplified: Pertinent FAQ for Quick Reference and Understanding (UUM Press) written by Saiful Yazan Ahmad and published by UUM Press. This book was released on 2017-01-02 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Malaysia is ahead of other countries having introduced legislation and guidelines to promote the stability and growth of Islamic finance in the country. Islamic Financial Services Act (IFSA) was introduced in 2013 to coordinate some good deed by adding a number of provisions, including the Takaful Act. Among the guidelines that have been introduced or enhanced by the Malaysian authorities that impact directly on Takaful is a Risk-based Framework for Takaful Operators, Guidelines on Takaful Operational Framework and Syariah Governance Framework for Islamic Financial institutions. Takaful industry is expected to continue its growth in the future with the emergence of new markets in certain countries. This book aims to answer some key questions are often raised about the takaful business based on current market practice and as a quick reference source for anyone interested. The discussion in this book revolves around the issues that have been raised by civil society and the individual directly or indirectly when dealing with Takaful. The author attempts to answer these questions in a style and language that is easily understood by all parties.
Book Synopsis Does Insurance Market Activity Promote Economic Growth? A Cross-Country Study for Industrialized and Developing Countries by : Marco Arena
Download or read book Does Insurance Market Activity Promote Economic Growth? A Cross-Country Study for Industrialized and Developing Countries written by Marco Arena and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Insurance market activity, both as a financial intermediary and a provider of risk transfer and indemnification, may contribute to economic growth by allowing different risks to be managed more efficiently and by mobilizing domestic savings. During the past decade, there has been faster growth in insurance market activity, particularly in emerging markets given the process of liberalization and financial integration, which raises questions about its impact on economic growth. The author tests whether there is a causal relationship between insurance market activity (life and nonlife insurance) and economic growth. Using the generalized method of moments for dynamic models of panel data for 56 countries and for the 1976-2004 period, he finds robust evidence of a causal relationship between insurance market activity and economic growth. Both life and nonlife insurance have a positive and significant causal effect on economic growth. High-income countries drive the results in the case of life insurance. On the other hand, both high-income and developing countries drive the results in the case of nonlife insurance.
Book Synopsis Takaful and Mutual Insurance by : Serap O. Gonulal
Download or read book Takaful and Mutual Insurance written by Serap O. Gonulal and published by World Bank Publications. This book was released on 2012-11-15 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Takaful, which means 'cooperative', is an insurance approach that is instrumental to providing insurance services to Muslims and others with religious objections to aspects of conventional commercial insurance models, specifically interest payments, uncertainty, or gambling kind of transactions.
Book Synopsis A Comparative Analysis of Takaful and Conventional Insurance, with a Special Reference to the Saudi Insurance Law by : Khalaf Mohammed Albalawi
Download or read book A Comparative Analysis of Takaful and Conventional Insurance, with a Special Reference to the Saudi Insurance Law written by Khalaf Mohammed Albalawi and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
