Evolution of Takaful in Malaysia-the case of investment link family takaful

Parveen, Tamiza and Razali, Siti Salwani and Che Mohd Salleh, Marhanum (2020) Evolution of Takaful in Malaysia-the case of investment link family takaful. Indonesian Journal of Contemporary Management Research, 2 (1). pp. 1-9. ISSN 2655-3112 E-ISSN 2722-9092 (In Press)

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Abstract

The Malaysian takaful industry has experienced stable growth in recent years. The industry has introduced an innovative product which is an investment-linked family takaful product that offers both investment and protection to the participants. These papers aims to explore the evolution of the takaful sector in Malaysia with a specific aim at unveiling the prospects and challenges with the investment-link products. This study is exploratory in nature. Thus, we have used a structured literature review techniques (SLR) to identify key papers in relation to Malaysian Takaful and investment link products. Review of related literature allows this paper to provide insight into the regulatory and shariah aspect of investment-linked takaful. We conclude that regulatory authorities need to develop governance and Sharia standards for the effective operation of Takaful operator toward protecting investor interest. Finally, we recommend the inclusion of the Shariah board to review investment options selected by the takaful operator.

Item Type:	Article (other)
Uncontrolled Keywords:	Investment, Takaful, Shari’ah, Risk, Structured Literature Review, Malaysia
Subjects:	H Social Sciences > HG Finance > HG8719 Islamic Insurance Takaful
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences Kulliyyah of Economics and Management Sciences > Department of Business Administration
Depositing User:	Dr Siti Salwani Razali
Date Deposited:	19 Nov 2021 15:05
Last Modified:	19 Nov 2021 15:29
URI:	http://irep.iium.edu.my/id/eprint/93870

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