Shariah scholars' view point on the practice of underwriting and risk rating for family takaful model

The practice of underwriting and risk rating for individual participants in family takaful stems from the underwriting practice in life insurance, and thus could contain elements which contravene the essence of the Shari’ah. A review of literature on takaful indicates that there are very few mater...

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Main Authors:	Htay, Sheila Nu Nu, Syed, Ahmed Salman, Mohammad , Khalid Jawahir
Format:	Article
Language:	English
Published:	Canadian Center of Science and Education 2013
Subjects:	HG8011 Insurance
Online Access:	http://irep.iium.edu.my/30949/ http://irep.iium.edu.my/30949/ http://irep.iium.edu.my/30949/1/28618-96053-1-SM.pdf

id	iium-30949
recordtype	eprints
spelling	iium-309492013-10-04T00:53:45Z http://irep.iium.edu.my/30949/ Shariah scholars' view point on the practice of underwriting and risk rating for family takaful model Htay, Sheila Nu Nu Syed, Ahmed Salman Mohammad , Khalid Jawahir HG8011 Insurance The practice of underwriting and risk rating for individual participants in family takaful stems from the underwriting practice in life insurance, and thus could contain elements which contravene the essence of the Shari’ah. A review of literature on takaful indicates that there are very few materials which look at the underwriting practice from a Shari’ah perspective. The objective of this study is to find out the Shari’ah viewpoint on the underwriting and risk rating practice for individual participants in family takaful. The study sample consists of five purposefully selected Shari’ah experts on takaful. The research method uses is based on the Delphi technique. This study found that most of the Shari’ah scholars interviewed did not seem to have a deep exposure to the underwriting and risk rating practice in family takaful. They however declare that underwriting and risk rating is permissible, although they had some concerns regarding some of the factors use in the underwriting process. The findings of this study will be of interest to the Shari’ah scholars, takaful operators, regulatory bodies, academicians, and other stakeholders. Canadian Center of Science and Education 2013-06-29 Article PeerReviewed application/pdf en http://irep.iium.edu.my/30949/1/28618-96053-1-SM.pdf Htay, Sheila Nu Nu and Syed, Ahmed Salman and Mohammad , Khalid Jawahir (2013) Shariah scholars' view point on the practice of underwriting and risk rating for family takaful model. Asian Social Science, 9 (9). pp. 280-286. ISSN 1911-2025 (O), 1911-2017 (P) http://dx.doi.org/10.5539/ass.v9n9p280
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG8011 Insurance
spellingShingle	HG8011 Insurance Htay, Sheila Nu Nu Syed, Ahmed Salman Mohammad , Khalid Jawahir Shariah scholars' view point on the practice of underwriting and risk rating for family takaful model
description	The practice of underwriting and risk rating for individual participants in family takaful stems from the underwriting practice in life insurance, and thus could contain elements which contravene the essence of the Shari’ah. A review of literature on takaful indicates that there are very few materials which look at the underwriting practice from a Shari’ah perspective. The objective of this study is to find out the Shari’ah viewpoint on the underwriting and risk rating practice for individual participants in family takaful. The study sample consists of five purposefully selected Shari’ah experts on takaful. The research method uses is based on the Delphi technique. This study found that most of the Shari’ah scholars interviewed did not seem to have a deep exposure to the underwriting and risk rating practice in family takaful. They however declare that underwriting and risk rating is permissible, although they had some concerns regarding some of the factors use in the underwriting process. The findings of this study will be of interest to the Shari’ah scholars, takaful operators, regulatory bodies, academicians, and other stakeholders.
format	Article
author	Htay, Sheila Nu Nu Syed, Ahmed Salman Mohammad , Khalid Jawahir
author_facet	Htay, Sheila Nu Nu Syed, Ahmed Salman Mohammad , Khalid Jawahir
author_sort	Htay, Sheila Nu Nu
title	Shariah scholars' view point on the practice of underwriting and risk rating for family takaful model
title_short	Shariah scholars' view point on the practice of underwriting and risk rating for family takaful model
title_full	Shariah scholars' view point on the practice of underwriting and risk rating for family takaful model
title_fullStr	Shariah scholars' view point on the practice of underwriting and risk rating for family takaful model
title_full_unstemmed	Shariah scholars' view point on the practice of underwriting and risk rating for family takaful model
title_sort	shariah scholars' view point on the practice of underwriting and risk rating for family takaful model
publisher	Canadian Center of Science and Education
publishDate	2013
url	http://irep.iium.edu.my/30949/ http://irep.iium.edu.my/30949/ http://irep.iium.edu.my/30949/1/28618-96053-1-SM.pdf
first_indexed	2023-09-18T20:45:11Z
last_indexed	2023-09-18T20:45:11Z
_version_	1777409627160313856

Shariah scholars' view point on the practice of underwriting and risk rating for family takaful model

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