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Al Wakalah and Customers’ Preferences toward It: A Case Study of Two Takaful Companies in Malaysia

Annuar, Hairul Azlan (2005) Al Wakalah and Customers’ Preferences toward It: A Case Study of Two Takaful Companies in Malaysia. American Journal of Islamic Social Sciences, 22 (1). pp. 28-49. ISSN 0742-6763

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Abstract

The agency system has been the main distribution channel for insurers. However, Syarikat Takaful Malaysia Berhad (STMB) does not implement it, while Takaful Nasional Sendirian Berhad (TNSB) does. This has a lot to do with juristic opinions (ikhtilaf)on whether a takaful company (mudarib) can use part of the participants’capital (rabb al-mal) to pay for management expenses.An exploratory survey was undertaken to ascertain the respondents’perception on the importance of agents. My study showed that customers prefer the agency system (al-wakalah) and that this system can generate greater benefits (manfa`at) to both parties.

Item Type: Article (Journal)
Additional Information: 3997/23767
Uncontrolled Keywords: al-wakalah, takaful,
Subjects: H Social Sciences > HF Commerce > HF5001 Business. Business Administration > HF5601 Accounting. Bookkeeping
Kulliyyahs/Centres/Divisions/Institutes: Kulliyyah of Economics and Management Sciences > Department of Accounting
Depositing User: Dr Hairul Azlan Bin Annuar
Date Deposited: 02 Jan 2013 08:33
Last Modified: 13 Feb 2013 19:21
URI: http://irep.iium.edu.my/id/eprint/23767

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