Critical Analysis On The Practices Of Family Takaful And Life Insurance Products In Malaysia

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Critical Analysis on the Practices of Family Takaful and Life Insurance Products in Malaysia

Author : Wan Reena Zahirah
Publisher :
ISBN 13 :
Total Pages : 152 pages
Book Rating : 4.:/5 (957 download)

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Book Synopsis Critical Analysis on the Practices of Family Takaful and Life Insurance Products in Malaysia by : Wan Reena Zahirah

Download or read book Critical Analysis on the Practices of Family Takaful and Life Insurance Products in Malaysia written by Wan Reena Zahirah and published by . This book was released on 2012 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses about the differences and similarities in the Malaysian practice of individual family takaful product and conventional individual life insurance product between the takaful operators and insurance companies. The motivation of this research is to help the consumers and the industry to better understand the similarities and differences of the development processes and the operations of the takaful and insurance products. Since some claimed that the conventional insurance practice is not entirely unlawful. the researcher believed that there is a need to critically review takaful products and make a comparison with insurance products from the product development process until the maturity and seek the opinions of shari 'ah scholars on the differences of the practices between takaful and insurance company. This paper is also expected to make the public fully understand the reason behind the shuri ·ah cornpliancy and non-compliancy of a certain contract and operating process of the products so that the contemporary Muslim Ummah can gain benefits from it. The statistical methods that the researcher uses in this research are descriptive analysis and content analysis due to the fact that the research is more inclined towards qualitative rather than quantitative. The outcome of this research shows that there are some significance differences in the operations of the products which will potentially enlighten the public. Nonetheless, more in-depth research could be undertaken by analyzing and contrasting other intriguing products that are more complex to be undisputable regarding the differences between takaful and insurance products.

Critical Analysis of Family Takaful Operational Models in Malaysia

Author : Hanna Rabittah Zaharin
Publisher :
ISBN 13 :
Total Pages : 124 pages
Book Rating : 4.:/5 (957 download)

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Book Synopsis Critical Analysis of Family Takaful Operational Models in Malaysia by : Hanna Rabittah Zaharin

Download or read book Critical Analysis of Family Takaful Operational Models in Malaysia written by Hanna Rabittah Zaharin and published by . This book was released on 2012 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Takaful and insurance have been compared long ago by many scholars around the world. Prior literatures of Takaful are mainly focusing on the concept and theoretical nature of takaful and its differences from insurance. Malaysian Takaful industry has been given flexibility in terms of the operational models adopted and to the researchers' knowledge; no research has been conducted in Malaysia regarding the choice ofTakaful operational models by Takaful operators. It is important to study the motives behind choosing among different Takaful models since different models have different impacts on the Takaful funds, especially for Family Takaful funds. Therefore, this research is conducted to examine on reasons behind choosing Takaful operation models and to propose the most suitable model to be adopted by Takaful operators to be fair and equitable for both Takaful operators and participants. The representatives from Takaful operators are interviewed and it has been found out that most of Takaful operators prefer the Hybrid wakE!ahMulErabah or Modified wakE!ah (principal-agent) model. The main reason is that Central Bank of Malaysia clearly sets the rule that in the wakElah contract, Takaful operators can charge wakElah fess (agent fees and administrative expenses) upfront to the participants (certificate holders). Moreover, an upper limit wakE!ah fees is 40% and hence, it is favourable to Takaful operators. The Muli:rabah (profit and loss sharing) model is not much favoured in the Malaysian Takaful industry. Interview results further find out that most of the practitioners also think that the wakE!ah fees imposed on the participants are too much and the Hybrid wakE!ah/MulErabah Modified wakE!ah model has too many layers of charging profits from the funds and consequently, the currently adopted models are at the disadvantages of participants. Since this research provides a clear picture of the current practice of the Family Takaful operating models adopted by the Malaysian Takaful operators, these findings will be useful for regulators and SharENah advisors to look into this issue again to be fair and justice to involved parties.

Encyclopedia of Islamic Insurance, Takaful and Retakaful

Author : Mohd Ma'Sum Billah
Publisher : Edward Elgar Publishing
ISBN 13 : 178811583X
Total Pages : 402 pages
Book Rating : 4.7/5 (881 download)

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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.

Takaful

Author :
Publisher :
ISBN 13 : 9789673492305
Total Pages : 585 pages
Book Rating : 4.4/5 (923 download)

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Book Synopsis Takaful by :

Download or read book Takaful written by and published by . This book was released on 2013 with total page 585 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Determinants of Life Insurance Consumption across Countries

Author : Thorsten Beck
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4./5 ( download)

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Book Synopsis Determinants of Life Insurance Consumption across Countries by : Thorsten Beck

Download or read book Determinants of Life Insurance Consumption across Countries written by Thorsten Beck and published by World Bank Publications. This book was released on 2002 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Developing Role of Islamic Banking and Finance

Author : Fouad H. Beseiso
Publisher : Emerald Group Publishing
ISBN 13 : 1783508183
Total Pages : 227 pages
Book Rating : 4.7/5 (835 download)

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Book Synopsis The Developing Role of Islamic Banking and Finance by : Fouad H. Beseiso

Download or read book The Developing Role of Islamic Banking and Finance written by Fouad H. Beseiso and published by Emerald Group Publishing. This book was released on 2014-07-10 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume highlights a vital developmental stage of Islamic Banking and Finance, focusing on regulatory aspects, regional case studies and International Financial Crisis impacts. It aims to help decision makers identify key factors for the real, sustained development of the Islamic Banking System, nationally, regionally and internationally.

An Introduction to Islamic Finance

Author : Zamir Iqbal
Publisher : John Wiley & Sons
ISBN 13 : 0470828110
Total Pages : 318 pages
Book Rating : 4.4/5 (78 download)

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Book Synopsis An Introduction to Islamic Finance by : Zamir Iqbal

Download or read book An Introduction to Islamic Finance written by Zamir Iqbal and published by John Wiley & Sons. This book was released on 2011-08-24 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book to offer comprehensive coverage of Islamic finance and banking and its applications to the rest of the world, now fully revised and updated The ongoing international financial crisis has reignited debate over the development of a risk-sharing financial system, such as that required in Shariah Law. An Introduction to Islamic Finance: Theory and Practice, Second Edition highlights the core principles of risk sharing in Islam, arguing that a risk-sharing financial system is exactly what we need to promote greater financial stability. Providing comprehensive coverage of the fundamental theory behind Islamic finance and banking, according to the core concepts of Shariah law, authors Zamir Iqbal and Abbas Mirakhor clearly explain the distinct features of an Islamic financial system and how it compares with traditional financial models. Addressing the myriad important developments that have taken place in recent years, this second edition looks to the future, addressing emerging issues sure to influence future developments in Islamic finance. Explores the unique features of an Islamic financial system, how they compare to more traditional financial systems, and how they could improve them Discusses all the most recent developments and emerging issues in Islamic finance Updated with the latest developments, trends, innovations, and statistics, this new edition features additional chapters on the financial crisis, globalization, non-bank financial institutions, and recent developments in Takaful (Islamic insurance) The first edition of An Introduction to Islamic Finance established the book as the market leader, and this newly revised and updated second edition incorporates the most recent developments in this booming financial sector, including financial stability, globalization, and non-banking financial institutions.

Islamic Insurance

Author : Aly Khorshid
Publisher : Routledge
ISBN 13 : 1134387350
Total Pages : 243 pages
Book Rating : 4.1/5 (343 download)

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Book Synopsis Islamic Insurance by : Aly Khorshid

Download or read book Islamic Insurance written by Aly Khorshid and published by Routledge. This book was released on 2004-02-12 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some Muslims believe insurance is unnecessary, as society should help its victims. Muslims can no longer ignore the fact that they live, trade and communicate with open global systems, and they can no longer ignore the need for banking and insurance. Aly Khorshid demonstrates how initial clerical apprehensions were overcome to create pioneering Muslim-friendly banking systems, and applies the lessons learnt to a workable insurance framework by which Muslims can compete with non-Muslims in business and have cover in daily life. The book uses relevant Quranic and Sunnah extracts, and the arguments of pro- and anti-insurance jurists to arrive at its conclusion that Muslims can enjoy the peace of mind and equity of an Islamic insurance scheme.

Does Insurance Market Activity Promote Economic Growth? A Cross-Country Study for Industrialized and Developing Countries

Author : Marco Arena
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)

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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.

Islamic Insurance Products

Author : Mohd Ma'Sum Billah
Publisher : Springer Nature
ISBN 13 : 3030176819
Total Pages : 500 pages
Book Rating : 4.0/5 (31 download)

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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.

Takaful Islamic Insurance

Author : Simon Archer
Publisher : Wiley
ISBN 13 : 9780470823521
Total Pages : 0 pages
Book Rating : 4.8/5 (235 download)

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Book Synopsis Takaful Islamic Insurance by : Simon Archer

Download or read book Takaful Islamic Insurance written by Simon Archer and published by Wiley. This book was released on 2009-08-03 with total page 0 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.

Freedom in the World 2004

Author : Aili Piano
Publisher : Rowman & Littlefield
ISBN 13 : 9780742536456
Total Pages : 756 pages
Book Rating : 4.5/5 (364 download)

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Book Synopsis Freedom in the World 2004 by : Aili Piano

Download or read book Freedom in the World 2004 written by Aili Piano and published by Rowman & Littlefield. This book was released on 2004 with total page 756 pages. Available in PDF, EPUB and Kindle. Book excerpt: Freedom in the World contains both comparative ratings and written narratives and is now the standard reference work for measuring the progress and decline in political rights and civil liberties on a global basis.

Artificial Intelligence for Sustainable Finance and Sustainable Technology

Author : Abdalmuttaleb M. A. Musleh Al-Sartawi
Publisher : Springer Nature
ISBN 13 : 3030934640
Total Pages : 637 pages
Book Rating : 4.0/5 (39 download)

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Book Synopsis Artificial Intelligence for Sustainable Finance and Sustainable Technology by : Abdalmuttaleb M. A. Musleh Al-Sartawi

Download or read book Artificial Intelligence for Sustainable Finance and Sustainable Technology written by Abdalmuttaleb M. A. Musleh Al-Sartawi and published by Springer Nature. This book was released on 2022-01-01 with total page 637 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows latest research on artificial intelligence for sustainable technology. ICGER 2021 was organized by the Accounting, Finance and Banking Department at Ahlia University, Bahrain, and was conducted on the 15th and 16th of September. The strategic partners included the University of Jordan, the Bahrain Economists Society, the Association of Chartered Certified Accountants: ACCA, Al-Barka Banking Group and the International Computer Auditing Education Association: ICAEA . The theme of the ICGER 2021 centered around artificial intelligence for sustainable finance and sustainable technology. Accordingly, the papers presented at the conference provided a holistic view of sustainable finance, sustainability, AI, financial technology, cybersecurity, blockchain, CSR, and governance. This book, unlike ever before, brings together intelligence applications of new technologies and the sustainability requirements in the era of the digital economy, with special attention given to the opportunities, challenges, for education, business growth, and economic progression of nations which will help societies (economists, financial managers, engineers, ICT specialists, digital managers, data managers, policymakers, regulators, researchers, academics, and students) to better understand, use, and control AI applications and financial technologies to develop future strategies and to achieve sustainable development goals.

Case Studies in Islamic Banking and Finance

Author : Brian Kettell
Publisher : John Wiley & Sons
ISBN 13 : 0470978015
Total Pages : 193 pages
Book Rating : 4.4/5 (79 download)

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Book Synopsis Case Studies in Islamic Banking and Finance by : Brian Kettell

Download or read book Case Studies in Islamic Banking and Finance written by Brian Kettell and published by John Wiley & Sons. This book was released on 2011-08-15 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based around 13 individual cases, this book will stimulate discussion and develop the reader's understanding of Islamic finance by contrasting their existing theoretical knowledge against practical examples.

Implementing Takaful in India

Author : Syed Ahmed Salman
Publisher : Springer Nature
ISBN 13 : 9811662819
Total Pages : 134 pages
Book Rating : 4.8/5 (116 download)

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Book Synopsis Implementing Takaful in India by : Syed Ahmed Salman

Download or read book Implementing Takaful in India written by Syed Ahmed Salman and published by Springer Nature. This book was released on 2021-10-07 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book encourages insurance companies and regulators to explore offering Islamic insurance to boost the insurance industry in India. The distinctive features of Takaful also make it appealing even to non-Muslims. According to the 2012 World Takaful Report, India has immense potential for Takaful is based on the size of its Muslim population and the growth of its economy. However, it is surprising that Takaful has yet to be introduced in India since it has been offered in non-majority Muslim countries, such as Singapore, Thailand, and Sri Lanka. When the concept and practice of Takaful are examined, it is free from interest, uncertainty, and gambling. These are the main elements prohibited in Islam. However, it has been evidenced that these elements are also banned in teaching other religions believed by the Indians. Given this landscape, this book fills the gap in research on the viability of Takaful in India, focusing on its empirical aspects by examining the perception of Indian insurance operators toward Takaful.

An Overview of Islamic Finance

Author : Mr.Mumtaz Hussain
Publisher : International Monetary Fund
ISBN 13 : 1513565621
Total Pages : 35 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis An Overview of Islamic Finance by : Mr.Mumtaz Hussain

Download or read book An Overview of Islamic Finance written by Mr.Mumtaz Hussain and published by International Monetary Fund. This book was released on 2015-06-02 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.

Malaysia Health System Review

Author : WHO Regional Office for the Western Pacific
Publisher :
ISBN 13 : 9789290615842
Total Pages : 128 pages
Book Rating : 4.6/5 (158 download)

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Book Synopsis Malaysia Health System Review by : WHO Regional Office for the Western Pacific

Download or read book Malaysia Health System Review written by WHO Regional Office for the Western Pacific and published by . This book was released on 2012-12-15 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Health Systems in Transition (HiT) profiles are country-based reports that provide a detailed description of a health system and of reform and policy initiatives in progress or under development in a specific country. Each profile is produced by country experts in collaboration with an international editor. In order to facilitate comparisons between countries, the profiles are based on a common template used by the Asia Pacific and European Observatories on Health Systems and Policies. The template provides detailed guidelines and specific questions, definitions and examples needed to compile a profile.