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The perception of Muslim on family takaful scheme participation in Malaysia: a qualitative study

Husin, M. M. and Rahman, A. A. and Rizal, A. M. and Kamarudin, S. and Hussin, N. (2017) The perception of Muslim on family takaful scheme participation in Malaysia: a qualitative study. Advanced Science Letters, 23 (4). pp. 3037-3041. ISSN 1936-6612

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Abstract

Takaful industry has experienced rapid growth and gained wider acceptance among Muslims and non-Muslims. The growth of takaful industry has contributed to economic development especially in the Islamic financial system. In general, this study discusses the perception of Muslim on family takaful scheme participation in Klang Valley, Malaysia. In particular, this study aims to identify the perception of Muslim on family takaful scheme participation, the sources that might influence the intention to participate into the scheme, the perception on the importance of Islamic element in purchasing insurance, and problems that might impede individual’s intention from participating in family takaful scheme. This study uses semi-structured interviews question to collect the data. Interview data are analyzed using thematic analysis. The result shows that Muslim perception and intention to participate in family takaful scheme is mixed. While most of the respondents agree that family takaful is a necessity, money was the main factor that impedes their intention from participating in the scheme. This study suggests the influence of media and takaful agent in enhancing Muslim awareness, knowledge and intention to participate in family takaful scheme.

Item Type:Article
Uncontrolled Keywords:Family takaful, Insurance, Interview, Malaysia, Muslim, Perception
Subjects:H Social Sciences > HJ Public Finance
Divisions:International Business School
ID Code:75254
Deposited By: Fazli Masari
Deposited On:27 Mar 2018 14:06
Last Modified:27 Mar 2018 14:06

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