Browsing by Topic Takaful

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Showing results 28 to 37 of 40
  • Takaful_Malaysia_need_balancing_act_ezamshah.pdf.jpg
  • Industry Article


  • Authors: Ismail, Ezamshah (2017)

  • The general and family takaful sectors in Malaysia have showed positive growth. Based on the Malaysian Takaful Association (MTA) 2017 figures, the total combined assets of the industry has risen to MYR26.9 billion in 2016. Family takaful penetration declined slightly to 14.6% in 2016 compared to 14.71% in 2015.

  • takaful insurance_concept_history_development_syed othman.pdf.jpg
  • Chapter in Book


  • Authors: Alhabshi, Syed Othman; Shaikh Abdul Razak, Shaikh Hamzah (2011)

  • Takaful is derived from its Arabic root word 'kafala' which literally means 'to guarantee'. In terms of usage and implication, the term kafala certainly, denotes the agreement by one party to indemnify another for any liability that has been pre-agreed upon.

  • item.jpg
  • Academic Proceeding


  • Authors: Alhabshi, Syed Othman; Shaikh Abdul Razak, Shaikh Hamzah (2009)

  • Mutual help and guarantee have been the ordinary practice of tribal Arabs even before the advent of Islam in Arabia. A similar but refined concept was reinforced by the Qur'an to be adopted by Muslims. It was widely applied in their daily lives. When the Muslims extended their trade by sea to the Far East, the concept of mutual assistance became more prominent and organised to protect their ships, merchandise and even lives from all sorts of dangers and mishaps. The practice by these merchants to put aside a sum of money before setting sail to the Far East for trade as a fund to compensate any loss incurred by any of them became the most prominent practice that led to the birth of wha...

  • IF_Hub_Issue_3_Takaful_game_numbers_SyedOthman.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Alhabshi, Syed Othman (2017)

  • The advantage of large numbers is well known in many success stories. This is not to deny that quality of the individuals can be more important than mere numbers. We have seen in history especially that of Islam, where many times the early Muslim army was outnumbered by the opponents by three, four or even ten times, yet they won almost every battle. For instance, in the first battle with idolaters of Makkah better known as Battle of Badr, in the second year of Hijrah, the Muslim army managed to gather only about 317 people, with only two horses and 70 camels for transport. The Makkans came with 1,300 strong, 100 horsemen, 600 soldiers with mail armour and many camels. Yet this first ...

  • IF_Hub_Issue_3_Takaful_is_not_disruptive_enough_Ezamshah.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ismail, Ezamshah (2017)

  • The development of the Takaful industry in Malaysia has been encouraged by three main factors. First, the Malaysian Muslim population of more than 60% of the country's population cannot be ignored. Statistics have shown that the Muslims in Malaysia now have greater affluence and are educated; and have developed greater skills. The per capita income of the Malays has grown from 60% of the average per capita income in Malaysia in 1970 to 80% of the average per capita in 2000, attributed mainly to the implementation of the New Economic Policy (NEP) which was designed to eradicate poverty and restructure society, put in place in 1971. Takaful is necessary for Muslims as a replacement for ...

  • takaful_concept_history_development_future_challenges_industry_shaikhhamzah.pdf.jpg
  • Journal Article


  • Authors: Alhabshi, Syed Othman; Shaikh Abdul Razak, Shaikh Hamzah (2009-09-01)

  • Mutual help and guarantee have been the ordinary practice of tribal Arabs even before the advent of Islam in Arabia. A similar but refined concept was reinforced by the Qur’an to be adopted by Muslims. It was widely applied in their daily lives. When the Muslims extended their trade by sea to the Far East, the concept of mutual assistance became more prominent and organised to protect their ships, merchandise and even lives from all sorts of dangers and mishaps. The practice by these merchants to put aside a sum of money before setting sail to the Far East for trade as a fund to compensate any loss incurred by any of them became the most prominent practice that led to the birth of wha...

  • takaful_concept_history_development_future.pdf.jpg
  • Chapter in Book


  • Authors: Alhabshi, Syed Othman; Shaikh Abdul Razak, Shaikh Hamzah (2014)

  • Mutual help and guarantee have been the ordinary practice of tribal Arabs even before the advent of Islam in Arabia. A similar but refined concept was reinforced by the Qur'an to be adopted by Muslims. It was widely applied in their daily lives. When the Muslims extended their trade by sea to the Far East, the concept of mutual assistance became more prominent and organised to protect their ships, merchandise and even lives from all sorts of dangers and mishaps. The practice by these merchants to put aside a sum of money before setting sail to the Far East for trade as a fund to compensate any loss incurred by any of them became the most prominent practice that led to the birth of wha...

  • item.jpg
  • Master


  • Authors: Ismail, Kamaluddin (2017)

  • There is no 'best fit' business model in takaful. All existing models applied in the present day takaful are akin to fitting square pegs into round holes. Where there are needs to fit in certain aspects of the business models, the practice is to cut off corners around the square pegs to enable the fit, primarily on the basis of maslahah to ensure conformity with the commercial aspirations and objective of the business models. This paper primarily explores the feasibility of ju'alah as the underlying contract in takaful. The ju'alah business model is developed, formulated and validated as to whether it can be an alternative business model in the context of Islamic commercial insurance-...

  • takaful_realities_and_challenges.pdf.jpg
  • Book


  • Authors: Alhabshi, Syed Othman; Sharif, Kamaruddin; Shaikh Abdul Razak, Shaikh Hamzah; Ismail, Ezamshah (2012)

  • This book discusses risk, risk management and the operational aspects of the two broadly classes of takaful products namely, general and family takaful. In this book, the authors have also explained the various functions involved in typical takaful operations including the process of underwriting, claims, marketing, investment and retakaful while at the same time, bringing in the Shari'ah elements in all of these functions. The authors believe that while takaful and conventional insurance possess many similarities, their contracts are somewhat different.

  • takaful_great_potential_nigeria_ezamshah.pdf.jpg
  • Industry Article


  • Authors: Ismail, Ezamshah (2015)

  • The article considers the potential of takaful to become a strong segment of the Nigerian insurance market. Topics discussed include the growth of the Nigerian economy in 2015, the emerging opportunities in the country's life insurance market, and the inclusion of microtakaful the could increase financial access and inclusion among lower-income Nigerians.

Browsing by Topic Takaful

Jump to: 0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
or enter first few letters:  
Showing results 28 to 37 of 40
  • Takaful_Malaysia_need_balancing_act_ezamshah.pdf.jpg
  • Industry Article


  • Authors: Ismail, Ezamshah (2017)

  • The general and family takaful sectors in Malaysia have showed positive growth. Based on the Malaysian Takaful Association (MTA) 2017 figures, the total combined assets of the industry has risen to MYR26.9 billion in 2016. Family takaful penetration declined slightly to 14.6% in 2016 compared to 14.71% in 2015.

  • takaful insurance_concept_history_development_syed othman.pdf.jpg
  • Chapter in Book


  • Authors: Alhabshi, Syed Othman; Shaikh Abdul Razak, Shaikh Hamzah (2011)

  • Takaful is derived from its Arabic root word 'kafala' which literally means 'to guarantee'. In terms of usage and implication, the term kafala certainly, denotes the agreement by one party to indemnify another for any liability that has been pre-agreed upon.

  • item.jpg
  • Academic Proceeding


  • Authors: Alhabshi, Syed Othman; Shaikh Abdul Razak, Shaikh Hamzah (2009)

  • Mutual help and guarantee have been the ordinary practice of tribal Arabs even before the advent of Islam in Arabia. A similar but refined concept was reinforced by the Qur'an to be adopted by Muslims. It was widely applied in their daily lives. When the Muslims extended their trade by sea to the Far East, the concept of mutual assistance became more prominent and organised to protect their ships, merchandise and even lives from all sorts of dangers and mishaps. The practice by these merchants to put aside a sum of money before setting sail to the Far East for trade as a fund to compensate any loss incurred by any of them became the most prominent practice that led to the birth of wha...

  • IF_Hub_Issue_3_Takaful_game_numbers_SyedOthman.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Alhabshi, Syed Othman (2017)

  • The advantage of large numbers is well known in many success stories. This is not to deny that quality of the individuals can be more important than mere numbers. We have seen in history especially that of Islam, where many times the early Muslim army was outnumbered by the opponents by three, four or even ten times, yet they won almost every battle. For instance, in the first battle with idolaters of Makkah better known as Battle of Badr, in the second year of Hijrah, the Muslim army managed to gather only about 317 people, with only two horses and 70 camels for transport. The Makkans came with 1,300 strong, 100 horsemen, 600 soldiers with mail armour and many camels. Yet this first ...

  • IF_Hub_Issue_3_Takaful_is_not_disruptive_enough_Ezamshah.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ismail, Ezamshah (2017)

  • The development of the Takaful industry in Malaysia has been encouraged by three main factors. First, the Malaysian Muslim population of more than 60% of the country's population cannot be ignored. Statistics have shown that the Muslims in Malaysia now have greater affluence and are educated; and have developed greater skills. The per capita income of the Malays has grown from 60% of the average per capita income in Malaysia in 1970 to 80% of the average per capita in 2000, attributed mainly to the implementation of the New Economic Policy (NEP) which was designed to eradicate poverty and restructure society, put in place in 1971. Takaful is necessary for Muslims as a replacement for ...

  • takaful_concept_history_development_future_challenges_industry_shaikhhamzah.pdf.jpg
  • Journal Article


  • Authors: Alhabshi, Syed Othman; Shaikh Abdul Razak, Shaikh Hamzah (2009-09-01)

  • Mutual help and guarantee have been the ordinary practice of tribal Arabs even before the advent of Islam in Arabia. A similar but refined concept was reinforced by the Qur’an to be adopted by Muslims. It was widely applied in their daily lives. When the Muslims extended their trade by sea to the Far East, the concept of mutual assistance became more prominent and organised to protect their ships, merchandise and even lives from all sorts of dangers and mishaps. The practice by these merchants to put aside a sum of money before setting sail to the Far East for trade as a fund to compensate any loss incurred by any of them became the most prominent practice that led to the birth of wha...

  • takaful_concept_history_development_future.pdf.jpg
  • Chapter in Book


  • Authors: Alhabshi, Syed Othman; Shaikh Abdul Razak, Shaikh Hamzah (2014)

  • Mutual help and guarantee have been the ordinary practice of tribal Arabs even before the advent of Islam in Arabia. A similar but refined concept was reinforced by the Qur'an to be adopted by Muslims. It was widely applied in their daily lives. When the Muslims extended their trade by sea to the Far East, the concept of mutual assistance became more prominent and organised to protect their ships, merchandise and even lives from all sorts of dangers and mishaps. The practice by these merchants to put aside a sum of money before setting sail to the Far East for trade as a fund to compensate any loss incurred by any of them became the most prominent practice that led to the birth of wha...

  • item.jpg
  • Master


  • Authors: Ismail, Kamaluddin (2017)

  • There is no 'best fit' business model in takaful. All existing models applied in the present day takaful are akin to fitting square pegs into round holes. Where there are needs to fit in certain aspects of the business models, the practice is to cut off corners around the square pegs to enable the fit, primarily on the basis of maslahah to ensure conformity with the commercial aspirations and objective of the business models. This paper primarily explores the feasibility of ju'alah as the underlying contract in takaful. The ju'alah business model is developed, formulated and validated as to whether it can be an alternative business model in the context of Islamic commercial insurance-...

  • takaful_realities_and_challenges.pdf.jpg
  • Book


  • Authors: Alhabshi, Syed Othman; Sharif, Kamaruddin; Shaikh Abdul Razak, Shaikh Hamzah; Ismail, Ezamshah (2012)

  • This book discusses risk, risk management and the operational aspects of the two broadly classes of takaful products namely, general and family takaful. In this book, the authors have also explained the various functions involved in typical takaful operations including the process of underwriting, claims, marketing, investment and retakaful while at the same time, bringing in the Shari'ah elements in all of these functions. The authors believe that while takaful and conventional insurance possess many similarities, their contracts are somewhat different.

  • takaful_great_potential_nigeria_ezamshah.pdf.jpg
  • Industry Article


  • Authors: Ismail, Ezamshah (2015)

  • The article considers the potential of takaful to become a strong segment of the Nigerian insurance market. Topics discussed include the growth of the Nigerian economy in 2015, the emerging opportunities in the country's life insurance market, and the inclusion of microtakaful the could increase financial access and inclusion among lower-income Nigerians.