Takaful practice in Nigeria: history, present and future

The development of a robust financial system is an important objective especially for a country like Nigeria, being a formidable force on the African continent. As the country aspires to become a major international financial centre in the continent by the year 2020, the development of Takaful as a...

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Main Authors:	Aliyu Ardo, Abubakar, Saiti, Buerhan
Format:	Article
Language:	English
Published:	European Research Centre for Islamic Finance 2017
Subjects:	HG8011 Insurance
Online Access:	http://irep.iium.edu.my/56823/ http://irep.iium.edu.my/56823/ http://irep.iium.edu.my/56823/ http://irep.iium.edu.my/56823/21/56823-Takaful%20practice%20in%20nigeria.pdf

id	iium-56823
recordtype	eprints
spelling	iium-568232017-12-05T01:29:23Z http://irep.iium.edu.my/56823/ Takaful practice in Nigeria: history, present and future Aliyu Ardo, Abubakar Saiti, Buerhan HG8011 Insurance The development of a robust financial system is an important objective especially for a country like Nigeria, being a formidable force on the African continent. As the country aspires to become a major international financial centre in the continent by the year 2020, the development of Takaful as a major segment of Islamic finance remains paramount. Despite government’s effort and the huge potentials for such a unique service, the growth in Takaful operations is still at a nascent after over a decade of existence. Takaful ought to have recorded great success in Nigeria considering several positive factors, unfortunately, which has not been the case. Using a qualitative library research method, this paper provides an overview of Takaful with emphasis on its practice in Nigeria over the years. The paper also further explores the challenges hindering the development of Takaful in Nigeria especially on the legal aspect. Consequently, certain recommendations have been made to reverse the ugly trend. As a matter of urgency, the issues raised need to be addressed to facilitate accelerated development of Takaful operations and contribute towards achieving the much-needed revitalization of the Nigerian financial system European Research Centre for Islamic Finance 2017-12 Article PeerReviewed application/pdf en http://irep.iium.edu.my/56823/21/56823-Takaful%20practice%20in%20nigeria.pdf Aliyu Ardo, Abubakar and Saiti, Buerhan (2017) Takaful practice in Nigeria: history, present and future. European Journal of Islamic Finance (8). pp. 1-10. ISSN 2421-2172 http://www.ojs.unito.it/index.php/EJIF/index http://dx.doi.org/10.13135/2421-2172/2086
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 Aliyu Ardo, Abubakar Saiti, Buerhan Takaful practice in Nigeria: history, present and future
description	The development of a robust financial system is an important objective especially for a country like Nigeria, being a formidable force on the African continent. As the country aspires to become a major international financial centre in the continent by the year 2020, the development of Takaful as a major segment of Islamic finance remains paramount. Despite government’s effort and the huge potentials for such a unique service, the growth in Takaful operations is still at a nascent after over a decade of existence. Takaful ought to have recorded great success in Nigeria considering several positive factors, unfortunately, which has not been the case. Using a qualitative library research method, this paper provides an overview of Takaful with emphasis on its practice in Nigeria over the years. The paper also further explores the challenges hindering the development of Takaful in Nigeria especially on the legal aspect. Consequently, certain recommendations have been made to reverse the ugly trend. As a matter of urgency, the issues raised need to be addressed to facilitate accelerated development of Takaful operations and contribute towards achieving the much-needed revitalization of the Nigerian financial system
format	Article
author	Aliyu Ardo, Abubakar Saiti, Buerhan
author_facet	Aliyu Ardo, Abubakar Saiti, Buerhan
author_sort	Aliyu Ardo, Abubakar
title	Takaful practice in Nigeria: history, present and future
title_short	Takaful practice in Nigeria: history, present and future
title_full	Takaful practice in Nigeria: history, present and future
title_fullStr	Takaful practice in Nigeria: history, present and future
title_full_unstemmed	Takaful practice in Nigeria: history, present and future
title_sort	takaful practice in nigeria: history, present and future
publisher	European Research Centre for Islamic Finance
publishDate	2017
url	http://irep.iium.edu.my/56823/ http://irep.iium.edu.my/56823/ http://irep.iium.edu.my/56823/ http://irep.iium.edu.my/56823/21/56823-Takaful%20practice%20in%20nigeria.pdf
first_indexed	2023-09-18T21:20:13Z
last_indexed	2023-09-18T21:20:13Z
_version_	1777411831528161280

Takaful practice in Nigeria: history, present and future

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