Hanif, Muhammad, Iqbal, Abdullah (2014) An Evaluation of Takaful Insurance: Case of Pakistan. Journal of Islamic Economics, Banking and Finance, 13 (1). ISSN 2070-4658. E-ISSN 2070-4666. (doi:10.2139/ssrn.2386497) (KAR id:62898)
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Official URL: http://dx.doi.org/10.2139/ssrn.2386497 |
Abstract
Islamic finance being a relatively new business segment, however, have shown promising results so far. In addition to banking services, Islamic finance has started penetrating in other sectors including capital markets and insurance. This study aims to evaluate the newly emerging Takaful sector in Pakistani market. The study covers an overview of insurance sector including Takaful; comparative financial analysis of Takaful industry with conventional insurance; an insight into the accounting and legal framework for Takaful; a customer survey to document the perception about Takaful business; and an insight and documentation of challenges to Takaful operations. Findings suggest Takaful business has low market share, although growing at a faster pace. The past financial performance appears to be poor, though with singnificant potential depicted by healthy growth. A reasonably good regulatory framework is also in place. Overall, market sentiments are very positive about Takaful insurance in Pakistan.
Item Type: | Article |
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DOI/Identification number: | 10.2139/ssrn.2386497 |
Uncontrolled keywords: | Takaful, Pakistan, market perception, regulatory framework, financial analysis, insruance |
Subjects: | H Social Sciences > HG Finance |
Divisions: | Divisions > Kent Business School - Division > Department of Accounting and Finance |
Depositing User: | Abdullah Iqbal |
Date Deposited: | 21 Aug 2017 12:57 UTC |
Last Modified: | 08 Dec 2022 21:58 UTC |
Resource URI: | https://kar.kent.ac.uk/id/eprint/62898 (The current URI for this page, for reference purposes) |
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