Are takaful operators at the sympathy of retakaful operators in Malaysia?

The concept of insurance is novel and excellent, since it tries to help the participants in the case of misfortune. It is prohibited from the Islamic aspect because the practice of insurance involves interest, uncertainty and gambling. Takaful has been introduced as an alternative to insurance and...

Full description

Bibliographic Details
Main Authors:	Htay, Sheila Nu Nu, Hamat , Mustapha, Wan Ismail, Wan Zamri, Salman, Syed Ahmed
Format:	Article
Language:	English
Published:	Medwell Publishing 2014
Subjects:	HG1501 Banking
Online Access:	http://irep.iium.edu.my/36467/ http://irep.iium.edu.my/36467/1/THE_SOCIAL_SCIENCES.pdf

id	iium-36467
recordtype	eprints
spelling	iium-364672017-06-14T08:01:02Z http://irep.iium.edu.my/36467/ Are takaful operators at the sympathy of retakaful operators in Malaysia? Htay, Sheila Nu Nu Hamat , Mustapha Wan Ismail, Wan Zamri Salman, Syed Ahmed HG1501 Banking The concept of insurance is novel and excellent, since it tries to help the participants in the case of misfortune. It is prohibited from the Islamic aspect because the practice of insurance involves interest, uncertainty and gambling. Takaful has been introduced as an alternative to insurance and at the same time, Retakaful has emerged as an alternative to reinsurance. Unfortunately, due to the limited number of Retakaful operators and over reliance of the Takaful operators on the Retakaful operators seem to create Takaful operators helpless except to follow the demand of the Retakaful operators. In addition, they have more bargaining power than Takaful operators. This study provides the evidence that higher proportion of general Takaful contribution goes for Retakaful expenses. Thus, it is time for the Takaful operators to realize that they are at the sympathy of Retakaful operators and the former one needs to find an alternative Retakful method, for example Retakaful pool method, apart from the traditional way of ceding their risks through Retakaful operators. Medwell Publishing 2014 Article PeerReviewed application/pdf en http://irep.iium.edu.my/36467/1/THE_SOCIAL_SCIENCES.pdf Htay, Sheila Nu Nu and Hamat , Mustapha and Wan Ismail, Wan Zamri and Salman, Syed Ahmed (2014) Are takaful operators at the sympathy of retakaful operators in Malaysia? The Social Sciences, 9 (2). pp. 108-111. ISSN 1818-5800
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG1501 Banking
spellingShingle	HG1501 Banking Htay, Sheila Nu Nu Hamat , Mustapha Wan Ismail, Wan Zamri Salman, Syed Ahmed Are takaful operators at the sympathy of retakaful operators in Malaysia?
description	The concept of insurance is novel and excellent, since it tries to help the participants in the case of misfortune. It is prohibited from the Islamic aspect because the practice of insurance involves interest, uncertainty and gambling. Takaful has been introduced as an alternative to insurance and at the same time, Retakaful has emerged as an alternative to reinsurance. Unfortunately, due to the limited number of Retakaful operators and over reliance of the Takaful operators on the Retakaful operators seem to create Takaful operators helpless except to follow the demand of the Retakaful operators. In addition, they have more bargaining power than Takaful operators. This study provides the evidence that higher proportion of general Takaful contribution goes for Retakaful expenses. Thus, it is time for the Takaful operators to realize that they are at the sympathy of Retakaful operators and the former one needs to find an alternative Retakful method, for example Retakaful pool method, apart from the traditional way of ceding their risks through Retakaful operators.
format	Article
author	Htay, Sheila Nu Nu Hamat , Mustapha Wan Ismail, Wan Zamri Salman, Syed Ahmed
author_facet	Htay, Sheila Nu Nu Hamat , Mustapha Wan Ismail, Wan Zamri Salman, Syed Ahmed
author_sort	Htay, Sheila Nu Nu
title	Are takaful operators at the sympathy of retakaful operators in Malaysia?
title_short	Are takaful operators at the sympathy of retakaful operators in Malaysia?
title_full	Are takaful operators at the sympathy of retakaful operators in Malaysia?
title_fullStr	Are takaful operators at the sympathy of retakaful operators in Malaysia?
title_full_unstemmed	Are takaful operators at the sympathy of retakaful operators in Malaysia?
title_sort	are takaful operators at the sympathy of retakaful operators in malaysia?
publisher	Medwell Publishing
publishDate	2014
url	http://irep.iium.edu.my/36467/ http://irep.iium.edu.my/36467/1/THE_SOCIAL_SCIENCES.pdf
first_indexed	2023-09-18T20:52:15Z
last_indexed	2023-09-18T20:52:15Z
_version_	1777410072174919680

Are takaful operators at the sympathy of retakaful operators in Malaysia?

Similar Items