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An Overview of the Emergence of Takaful: An Islamic Type of Insurance Policy

Received: 26 August 2013     Published: 30 September 2013
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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.

Published in International Journal of Business and Economics Research (Volume 2, Issue 5)
DOI 10.11648/j.ijber.20130205.13
Page(s) 112-115
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2013. Published by Science Publishing Group

Keywords

Takaful, Islamic Policy, Islamic Insurance, Conventional Insurance

References
[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.
Cite This Article
  • APA Style

    Suria Zainuddin, Izyan Nadiah Md Noh. (2013). An Overview of the Emergence of Takaful: An Islamic Type of Insurance Policy. International Journal of Business and Economics Research, 2(5), 112-115. https://doi.org/10.11648/j.ijber.20130205.13

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    ACS Style

    Suria Zainuddin; Izyan Nadiah Md Noh. An Overview of the Emergence of Takaful: An Islamic Type of Insurance Policy. Int. J. Bus. Econ. Res. 2013, 2(5), 112-115. doi: 10.11648/j.ijber.20130205.13

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    AMA Style

    Suria Zainuddin, Izyan Nadiah Md Noh. An Overview of the Emergence of Takaful: An Islamic Type of Insurance Policy. Int J Bus Econ Res. 2013;2(5):112-115. doi: 10.11648/j.ijber.20130205.13

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  • @article{10.11648/j.ijber.20130205.13,
      author = {Suria Zainuddin and Izyan Nadiah Md Noh},
      title = {An Overview of the Emergence of Takaful: An Islamic Type of Insurance Policy},
      journal = {International Journal of Business and Economics Research},
      volume = {2},
      number = {5},
      pages = {112-115},
      doi = {10.11648/j.ijber.20130205.13},
      url = {https://doi.org/10.11648/j.ijber.20130205.13},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20130205.13},
      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.},
     year = {2013}
    }
    

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    AU  - Suria Zainuddin
    AU  - Izyan Nadiah Md Noh
    Y1  - 2013/09/30
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    T2  - International Journal of Business and Economics Research
    JF  - International Journal of Business and Economics Research
    JO  - International Journal of Business and Economics Research
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    AB  - 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.
    VL  - 2
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    ER  - 

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Author Information
  • Faculty of Business and Accountancy, University of Malaya, Kuala Lumpur, Malaysia

  • Faculty of Business and Accountancy, University of Malaya, Kuala Lumpur, Malaysia

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