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Takaful (Islamic insurance) industry in Malaysia and the Arab Gulf States: challenges and future direction

Abu Hussin, Mohd. Fauzi and Muhamad, N. H. N. and Hussin, M. Y. M. (2014) Takaful (Islamic insurance) industry in Malaysia and the Arab Gulf States: challenges and future direction. Asian Social Science, 10 (21). pp. 26-34. ISSN 1911-2017

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Official URL: http://dx.doi.org/10.5539/ass.v10n21p26

Abstract

The Arab Gulf States in the Middle East and some other countries in South East Asia particularly Malaysia have been the epicenters for the development of Islamic banking and finance, as the last couple of years have not only witnessed tremendous development in the Industry but also much attention had been given to it by experts and professionals to brainstorm on its future direction, whereas less attention had been given to the discussion on the Islamic insurance; otherwise known as takaful despite its overwhelming growth. This paper, in a comparative context, examines the growth and development of the takaful industry in Malaysia and the Arab Gulf States by offering an insight into the challenges, prospects and future direction of the industry between these two fertile markets. It also examines the contributing factors to the growth and development of the industry in both markets through the use of historical reports, corporate documentations and professional analyses to arrive at a conclusion that the future of the industry in those two regions is not only germane but lucrative as well.

Item Type:Article
Uncontrolled Keywords:challenges and future direction, Islamic insurance
Subjects:B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc
Divisions:Islamic Civilisation
ID Code:62806
Deposited By: Fazli Masari
Deposited On:19 Jun 2017 08:12
Last Modified:19 Jun 2017 08:12

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