The Demand of Islamic Insurance in Malaysia Essay

BMER5113

RESEARCH METHODOLOGY

RESEARCH PITCH

TOPIC:

THE NECESSITY OF ISLAMIC INSURANCE IN MALAYSIA

WELL PREPARED FOR:

Lecturer

PREPARED BY:

Erina Farhanah

BACHELORS OF ISLAMIC FINANCE (TAKAFUL) (HONS)

PERIOD 2012/2013

seventeenth SEPTEMBER 2013

CONTENTS

1 ) 0 LAUNCH 1

2 . 0 ASSERTION OF PROBLEM1

3. 0 RESEARCH QUESTION2

4. zero OBJECTIVES 2

5. 0 LITERATURE ASSESSMENT

5. you Theory3

5. 2 Previous Studies3

six. 0 ANALYSIS METHODOLOGY

6th. 1Theoretical Framework8

6. 1 . 1 Islamic Insurance, Takaful9

6. 1 . 2 Real Demand of Takaful in Malaysia on the lookout for

6. 1 ) 3 Understanding of Takaful Concepts9

6. a couple of Design Questionnaire10

6. three or more Data Collection10

6. some Reliability Check 10

six. 5 Disovery Factor Analysis12

7. zero DATA ANALYSIS AND RESULTS13

7. you Background of Respondents 13

7. a couple of The Real Require of Takaful in Malaysia15

7. several The Awareness of Takaful Concepts16

7. some The relationship between Takaful, Real Demand and Awareness18

several. 4. you Hypothesis18

several. 4. 2 Pearson Relationship Coefficient, r19

7. four. 3 Scatterplots20

8. zero CONCLUSION22

9. 0 RECOMMENDATION23

10. 0 REFERRENCES24

10. 0 APPENDIX

11. one particular Questionnaire26

11. 2 Periodicals

1 . 0 INTRODUCTION

Islamic Insurances as in the Islamic terms from it, will be Takaful, from today has become essential among the specific. The market of Islamic insurances has grown up in to an important sector especially centering on Islamic Monetary globally. From your definition of Takaful, it is identified that Takaful is derived from the Arabic word " Kafala” which means " guaranteeing every single other” or " joint guarantee”. Underneath the Takaful Act 1984, Takaful is defined as " a scheme based on brotherhood, solidarity and mutual assistance which provides intended for mutual school funding and assist with the members, in case of want whereby, the participants mutually agree to bring about for that purpose. ” This represents the concept of insurance based upon mutual co-operation of people by participating in a Takaful finance. It is important pertaining to Takaful market conducts most its affairs in a manner that meets the Islamic Shari'ah Principles relates to investment the finance, carrying in business, and related any other financial field. All operations and legal agreements are create to ensure the component of speculation just like usury, concern, and gambling is eradicated from the Islamic insurances industry. As Takaful industry features rapidly grown up worldwide, Malaysia is the one among country that practicing standard Insurances and Islamic Insurances as the guaranteeing and well managing of dangers. The population in Malaysia is usually majorly in the religion of Islam, in comparison to other faith, no matter what contests of the populace are. Yet , because there are nonetheless offering in Islamic and conventional insurance coverages in the industry, peoples may are likely to choose one from the instruments since the protection against the risk. From your choosing of conventional and Islamic insurance policies whereas Takaful, it creates right after of require on regular insurances and Takaful items among Muslims in Malaysia. Therefore , it is being observable on the real demand of Islamic Insurance coverages, Takaful, with regards to on the consciousness and understanding of the Takaful concepts amongst Muslims in Malaysia.

installment payments on your 0 ASSERTION OF DIFFICULTY

The research is all about the demand of Takaful items among the Muslims in Malaysia. Based on the observation, there are two groups widely used by population of Malaysia in the insurances industry, which are regular insurances and Takaful insurance policies. The need of insurance is to give financial compensation to mitigate the effects of a misfortune. This is to ensure in well managing of dangers that need to be encountered by every single individuals in deals with genuine risks that...

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