Future of Islamic insurance (takaful) in Indian market

Takaful has been accepted as an alternative to insurance and it becomes popular not only in Muslim countries but also in non-Muslim countries. Similar to the insurance, takaful can provide the same benefit, coverage and protection to the participants. And it has an additional unique feature, i.e. it...

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Main Authors:	Syed, Ahmed Salman, Htay, Sheila Nu Nu
Format:	Conference or Workshop Item
Language:	English English English English
Published:	2013
Subjects:	HG1501 Banking
Online Access:	http://irep.iium.edu.my/31225/ http://irep.iium.edu.my/31225/1/TAKAFUL_Syed_Ahmed_Salman.pdf http://irep.iium.edu.my/31225/2/Picture_004.jpg http://irep.iium.edu.my/31225/8/Picture_001.jpg http://irep.iium.edu.my/31225/9/Picture_003.jpg

id	iium-31225
recordtype	eprints
spelling	iium-312252013-08-16T01:32:17Z http://irep.iium.edu.my/31225/ Future of Islamic insurance (takaful) in Indian market Syed, Ahmed Salman Htay, Sheila Nu Nu HG1501 Banking Takaful has been accepted as an alternative to insurance and it becomes popular not only in Muslim countries but also in non-Muslim countries. Similar to the insurance, takaful can provide the same benefit, coverage and protection to the participants. And it has an additional unique feature, i.e. its compliant nature with Islamic principles. India is ranked in the third position in terms of Muslim population in the world. In addition, worldwide India and China accounted for 40% of world's economic growth in the year 2011. According to the World Takaful Report (2009), the annual compounded growth rate of takaful is 31% and Indian sub-continent represents the highest growth of 85% in its Takaful contributions. Furthermore, takaful products are meant for both Muslims and non-Muslims. It is believed that if India is offering takaful products, it will be able to attract more Muslim participants while fulfilling the needs of non-Muslims. Therefore, it is expected that India can be the future takaful giant market. The regulators and the current insurance operators in India should relook at the needs and the trends of the market to take the opportunity of Indian growing economy and takaful unique nature. 2013-06 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/31225/1/TAKAFUL_Syed_Ahmed_Salman.pdf application/pdf en http://irep.iium.edu.my/31225/2/Picture_004.jpg application/pdf en http://irep.iium.edu.my/31225/8/Picture_001.jpg application/pdf en http://irep.iium.edu.my/31225/9/Picture_003.jpg Syed, Ahmed Salman and Htay, Sheila Nu Nu (2013) Future of Islamic insurance (takaful) in Indian market. In: ICMBE- 2013 International Conference on Management, Business and Economics., 7 - 8 June 2013, Vijayawada, Andhra Pradesh, India.
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English English English
topic	HG1501 Banking
spellingShingle	HG1501 Banking Syed, Ahmed Salman Htay, Sheila Nu Nu Future of Islamic insurance (takaful) in Indian market
description	Takaful has been accepted as an alternative to insurance and it becomes popular not only in Muslim countries but also in non-Muslim countries. Similar to the insurance, takaful can provide the same benefit, coverage and protection to the participants. And it has an additional unique feature, i.e. its compliant nature with Islamic principles. India is ranked in the third position in terms of Muslim population in the world. In addition, worldwide India and China accounted for 40% of world's economic growth in the year 2011. According to the World Takaful Report (2009), the annual compounded growth rate of takaful is 31% and Indian sub-continent represents the highest growth of 85% in its Takaful contributions. Furthermore, takaful products are meant for both Muslims and non-Muslims. It is believed that if India is offering takaful products, it will be able to attract more Muslim participants while fulfilling the needs of non-Muslims. Therefore, it is expected that India can be the future takaful giant market. The regulators and the current insurance operators in India should relook at the needs and the trends of the market to take the opportunity of Indian growing economy and takaful unique nature.
format	Conference or Workshop Item
author	Syed, Ahmed Salman Htay, Sheila Nu Nu
author_facet	Syed, Ahmed Salman Htay, Sheila Nu Nu
author_sort	Syed, Ahmed Salman
title	Future of Islamic insurance (takaful) in Indian market
title_short	Future of Islamic insurance (takaful) in Indian market
title_full	Future of Islamic insurance (takaful) in Indian market
title_fullStr	Future of Islamic insurance (takaful) in Indian market
title_full_unstemmed	Future of Islamic insurance (takaful) in Indian market
title_sort	future of islamic insurance (takaful) in indian market
publishDate	2013
url	http://irep.iium.edu.my/31225/ http://irep.iium.edu.my/31225/1/TAKAFUL_Syed_Ahmed_Salman.pdf http://irep.iium.edu.my/31225/2/Picture_004.jpg http://irep.iium.edu.my/31225/8/Picture_001.jpg http://irep.iium.edu.my/31225/9/Picture_003.jpg
first_indexed	2023-09-18T20:45:28Z
last_indexed	2023-09-18T20:45:28Z
_version_	1777409645736886272

Future of Islamic insurance (takaful) in Indian market

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