Volume 2, Issue 5, October 2013, Page: 112-115
An Overview of the Emergence of Takaful: An Islamic Type of Insurance Policy
Suria Zainuddin, Faculty of Business and Accountancy, University of Malaya, Kuala Lumpur, Malaysia
Izyan Nadiah Md Noh, Faculty of Business and Accountancy, University of Malaya, Kuala Lumpur, Malaysia
Received: Aug. 26, 2013;       Published: Sep. 30, 2013
DOI: 10.11648/j.ijber.20130205.13      View  2805      Downloads  283
Abstract
The Islamic type of insurance policy, called Takaful, is increasingly known at present and attracts the attention of the insurance holder especially in Islamic country like Malaysia. The purpose of this article is to provide basic definition and offer some explanations of takaful and how it differs from conventional insurance. It is also aimed to increase the understanding of takaful and avoid misinterpretation of the concept and applications of takaful, an Islamic type of insurance policy.
Keywords
Takaful, Islamic Policy, Islamic Insurance, Conventional Insurance
To cite this article
Suria Zainuddin, Izyan Nadiah Md Noh, An Overview of the Emergence of Takaful: An Islamic Type of Insurance Policy, International Journal of Business and Economics Research. Vol. 2, No. 5, 2013, pp. 112-115. doi: 10.11648/j.ijber.20130205.13
Reference
[1]
Takaful Act 1984 (2007). Kuala Lumpur: International Law Book Series.
[2]
Islamic Financial System: Principles and Operations. (2011). Kuala Lumpur: International Shari'ah Research Academy for Islamic Finance (ISRA).
[3]
Al-Quran, (5:2).
[4]
Echachabi, L.O. Ayinde, and Abdelghani, "Perception and adoption of Islamic insurance in Malaysia: An empirical study," World Applied Sciences Journal, vol. 20, issue 3, pp. 407-415, 2012. doi: 10.5829/idosi.wasj.2012.20.03.1954.
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