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DC FieldValueLanguage
dc.contributor.authorSaeeda Lubaba-
dc.contributor.authorAbu Umar Faruq Ahmad-
dc.contributor.authorAishath Muneeza-
dc.date.accessioned2022-03-01T03:35:10Z-
dc.date.available2022-03-01T03:35:10Z-
dc.date.issued2022-
dc.identifier.citationLubaba, S., Ahmad, A. U. F., & Muneeza, A. (2022). Challenges facing the development of takaful industry in Bangladesh and Indonesia: a review. Journal of Nusantara Studies, 7 (1), pp. 100-113.en_US
dc.identifier.issn0127-9386 (Online)-
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/3532-
dc.description.abstractTakaful is the Islamic version of insurance, and the size of global takaful industry is about USD$51 billion in 2019. Limited studies have been conducted on the development of takaful sector in Bangladesh and Indonesia using a comparative approach. As such, this review aims at investigating the challenges facing the development of takaful industry in these two countries. Primary sources such as laws and regulations, and the secondary sources such as scholarly articles and books on the subject matter were reviewed to derive conclusions. This review concludes that efficiency of takaful in both countries depend on some common factors, such as having a proper and sophisticated regulatory framework for takaful with the development of required talent pool while focusing on creating awareness and education to ensure that not only the general public have the required takaful literacy; but even the existing and potential customers have the basic knowledge about takaful. Further, it is also found in this review that in order to further develop the takaful industry in both countries, it is imperative to use innovation and technology to promote takaful parallel to the conventional insurance by creating a level playing field. This review also identifies some specific issues in both countries and have suggested recommendations accordingly. It is anticipated that the outcome of this review will assist policy makers and other stakeholders to understand the inhibitions facing the development of takaful industry in these two jurisdictions with hope that these challenges can be eliminated for the sustainable development of takaful sector.en_US
dc.languageEnglish-
dc.language.isoengen_US
dc.publisherUniversiti Sultan Zainal Abidinen_US
dc.rights2022. Universiti Sultan Zainal Abidin-
dc.sourceSEDONA-
dc.subjectInsuranceen_US
dc.subjectIslamic insuranceen_US
dc.subjectIslamic financeen_US
dc.subjectReviewen_US
dc.subjectShariahen_US
dc.subjectTakafulen_US
dc.titleChallenges facing the development of takaful industry in Bangladesh and Indonesia: a reviewen_US
dc.typeJournal Articleen_US
ikr.topic.maintopicTakafulen_US
dc.identifier.doihttp://dx.doi.org/10.24200/jonus.vol7iss1pp100-113-
ikr.doctypeScholarly Works-
Appears in Collections:Journal Article


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  • Full metadata record
    DC FieldValueLanguage
    dc.contributor.authorSaeeda Lubaba-
    dc.contributor.authorAbu Umar Faruq Ahmad-
    dc.contributor.authorAishath Muneeza-
    dc.date.accessioned2022-03-01T03:35:10Z-
    dc.date.available2022-03-01T03:35:10Z-
    dc.date.issued2022-
    dc.identifier.citationLubaba, S., Ahmad, A. U. F., & Muneeza, A. (2022). Challenges facing the development of takaful industry in Bangladesh and Indonesia: a review. Journal of Nusantara Studies, 7 (1), pp. 100-113.en_US
    dc.identifier.issn0127-9386 (Online)-
    dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/3532-
    dc.description.abstractTakaful is the Islamic version of insurance, and the size of global takaful industry is about USD$51 billion in 2019. Limited studies have been conducted on the development of takaful sector in Bangladesh and Indonesia using a comparative approach. As such, this review aims at investigating the challenges facing the development of takaful industry in these two countries. Primary sources such as laws and regulations, and the secondary sources such as scholarly articles and books on the subject matter were reviewed to derive conclusions. This review concludes that efficiency of takaful in both countries depend on some common factors, such as having a proper and sophisticated regulatory framework for takaful with the development of required talent pool while focusing on creating awareness and education to ensure that not only the general public have the required takaful literacy; but even the existing and potential customers have the basic knowledge about takaful. Further, it is also found in this review that in order to further develop the takaful industry in both countries, it is imperative to use innovation and technology to promote takaful parallel to the conventional insurance by creating a level playing field. This review also identifies some specific issues in both countries and have suggested recommendations accordingly. It is anticipated that the outcome of this review will assist policy makers and other stakeholders to understand the inhibitions facing the development of takaful industry in these two jurisdictions with hope that these challenges can be eliminated for the sustainable development of takaful sector.en_US
    dc.languageEnglish-
    dc.language.isoengen_US
    dc.publisherUniversiti Sultan Zainal Abidinen_US
    dc.rights2022. Universiti Sultan Zainal Abidin-
    dc.sourceSEDONA-
    dc.subjectInsuranceen_US
    dc.subjectIslamic insuranceen_US
    dc.subjectIslamic financeen_US
    dc.subjectReviewen_US
    dc.subjectShariahen_US
    dc.subjectTakafulen_US
    dc.titleChallenges facing the development of takaful industry in Bangladesh and Indonesia: a reviewen_US
    dc.typeJournal Articleen_US
    ikr.topic.maintopicTakafulen_US
    dc.identifier.doihttp://dx.doi.org/10.24200/jonus.vol7iss1pp100-113-
    ikr.doctypeScholarly Works-
    Appears in Collections:Journal Article


  • Challenges_facing_the_development_of_takaful_industry_in_...
    • Size : 603,71 kB

    • Format : Adobe PDF

    • View : 
    • Download :