Takaful Case Study
RESEARCH METHODOLOGY
Growth and Demand for Takaful in Malaysia:
A comparative study between Family Takaful and General Takaful
Name : Nurnadiana Binti Ramlee
Matrix Number : 1142249
Group : KSB
Instructor : Sir Mohd Azmir
INTRODUCTION
1.1 Background of the study
As the world is rapidly growth, Takaful is becoming one of the vital financial instruments in Malaysia instead of Insurance. The proliferation of it is undeniable since it is now become a viable alternative of conventional insurances. As far as we concern, conventional is strictly prohibited in Islam, therefore Takaful is introduced
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Fauzilah (2015) had mentioned in her study that currently penetration of takaful in the market is only 15% and still considered as low penetration compared with other industry. However, there is still a bright future ahead for Takaful industry if the industry managed to emphasize and exploit the strong growth and demand in the future. Not only that, general Takaful also apparently equally important with family Takaful as both of them are act as a complement for each other. Therefore, many progressive steps should be considering in order to make growth and demand in Takaful move in rapidly way.
1.3 Objectives
The objectives of this research are:
1. To examine the growth of Family Takaful and General Takaful in Malaysia.
2. To identify the most significant factor that determines the demand of Family Takaful and General Takaful in Malaysia.
1.4 Research Questions
The study is guided by the following questions:
1. What is the growth of Family Takaful and General Takaful in Malaysia?
2. What is the most significant factor that determines the growth and demand of Family Takaful and General Takaful in
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