The regulations supporting socio-economic initiative in takaful operations

Takaful operation in Malaysia has proven their credibility through the remarkable achievement in the market structure and net contribution income. As a financial product, takaful is one of the key tools in wealth protection. As the dedicated institutions which are authorized to operate in providing...

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Main Authors:	Hassan, Rusni, Harun, Hafiza
Format:	Article
Language:	English
Published:	International Association of Islamic Banks Karachi, Pakistan. 2019
Subjects:	HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/75401/ http://irep.iium.edu.my/75401/ http://irep.iium.edu.my/75401/1/75401%20-%20regulations%20supporting%20socio-economic%20initiative%20in%20takaful.pdf

id	iium-75401
recordtype	eprints
spelling	iium-754012019-10-15T09:01:30Z http://irep.iium.edu.my/75401/ The regulations supporting socio-economic initiative in takaful operations Hassan, Rusni Harun, Hafiza HG3368 Islamic Banking and Finance Takaful operation in Malaysia has proven their credibility through the remarkable achievement in the market structure and net contribution income. As a financial product, takaful is one of the key tools in wealth protection. As the dedicated institutions which are authorized to operate in providing Shariah-compliant protection coverage to the community, Takaful Operators are subject to relevant regulations and procedures. These regulations are important in providing a guided supervision and to ensure the interest of every stakeholder are preserved. This research paper applies the literature review based methodology that demonstrates the nature of takaful operations for society and nation. From the regulatory perspective, Bank Negara Malaysia plays its role through the introduction and enforcement of numerous rulings for takaful industry. The regulations such as Shariah Governance Framework, Islamic Financial Services Act, Takaful Operational Framework, Life Framework and Value-Based Intermediation are found to support takaful industry in achieving its operations’ objective of helping the community’s socio-economic environments. International Association of Islamic Banks Karachi, Pakistan. 2019-03 Article PeerReviewed application/pdf en http://irep.iium.edu.my/75401/1/75401%20-%20regulations%20supporting%20socio-economic%20initiative%20in%20takaful.pdf Hassan, Rusni and Harun, Hafiza (2019) The regulations supporting socio-economic initiative in takaful operations. Journal of Islamic Banking and Finance, 36 (1). pp. 47-59. ISSN 1814-8042 http://islamicbanking.asia/publications/
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG3368 Islamic Banking and Finance
spellingShingle	HG3368 Islamic Banking and Finance Hassan, Rusni Harun, Hafiza The regulations supporting socio-economic initiative in takaful operations
description	Takaful operation in Malaysia has proven their credibility through the remarkable achievement in the market structure and net contribution income. As a financial product, takaful is one of the key tools in wealth protection. As the dedicated institutions which are authorized to operate in providing Shariah-compliant protection coverage to the community, Takaful Operators are subject to relevant regulations and procedures. These regulations are important in providing a guided supervision and to ensure the interest of every stakeholder are preserved. This research paper applies the literature review based methodology that demonstrates the nature of takaful operations for society and nation. From the regulatory perspective, Bank Negara Malaysia plays its role through the introduction and enforcement of numerous rulings for takaful industry. The regulations such as Shariah Governance Framework, Islamic Financial Services Act, Takaful Operational Framework, Life Framework and Value-Based Intermediation are found to support takaful industry in achieving its operations’ objective of helping the community’s socio-economic environments.
format	Article
author	Hassan, Rusni Harun, Hafiza
author_facet	Hassan, Rusni Harun, Hafiza
author_sort	Hassan, Rusni
title	The regulations supporting socio-economic initiative in takaful operations
title_short	The regulations supporting socio-economic initiative in takaful operations
title_full	The regulations supporting socio-economic initiative in takaful operations
title_fullStr	The regulations supporting socio-economic initiative in takaful operations
title_full_unstemmed	The regulations supporting socio-economic initiative in takaful operations
title_sort	regulations supporting socio-economic initiative in takaful operations
publisher	International Association of Islamic Banks Karachi, Pakistan.
publishDate	2019
url	http://irep.iium.edu.my/75401/ http://irep.iium.edu.my/75401/ http://irep.iium.edu.my/75401/1/75401%20-%20regulations%20supporting%20socio-economic%20initiative%20in%20takaful.pdf
first_indexed	2023-09-18T21:46:41Z
last_indexed	2023-09-18T21:46:41Z
_version_	1777413496887050240

The regulations supporting socio-economic initiative in takaful operations

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