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Open Access
Article
Publication date: 28 September 2023

Ahmad Alrazni Alshammari, Othman Altwijry and Andul-Hamid Abdul-Wahab

From 1979 to 2023, the takaful structure has been adopted in many jurisdictions, making the documenting of its early days of establishment relatively difficult and somewhat…

1679

Abstract

Purpose

From 1979 to 2023, the takaful structure has been adopted in many jurisdictions, making the documenting of its early days of establishment relatively difficult and somewhat unreliable. This is unlike conventional insurance, where the history and legislation are well documented and archived in various research (Hellwege, 2016; Marano and Siri, 2017). The purpose of this paper is to provide a chronology for the establishment and development of takaful via the takaful establishment in each jurisdiction, documenting its first takaful operator and first takaful regulation.

Design/methodology/approach

This paper has used a qualitative method in the form of reviewing literature and available data such as journals, books and official resources. The data is thoroughly analysed in order to build the chronology for takaful. It adopted an exploratory research design, which is deemed suitable in situations where few works of literature have examined the subject (Neuman, 2014). The paper explores the establishment and non-establishment of takaful in 57 countries. The paper categorises the countries into seven regions starting with the GCC, Levant, Asia, Central Asia, Africa, Europe and Others.

Findings

The takaful chronology presented in this paper shows that takaful operations exist in 47 jurisdictions, starting from Sudan and the UAE in 1979, with the most recent adopters being Morocco and Iran in December 2021. It is found that 22 jurisdictions do not have takaful regulations, and the Takaful Act 1984, issued in Malaysia, is considered the first takaful regulation that sets the basis for other regulations that follow.

Originality/value

The paper contributes to the literature by providing a comprehensive chronology of takaful, especially as the few existing timelines have been found to be incomplete and consist of contradictory information.

Details

PSU Research Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2399-1747

Keywords

Open Access
Article
Publication date: 16 March 2015

Albert Postma

1692

Abstract

Details

Journal of Tourism Futures, vol. 1 no. 2
Type: Research Article
ISSN: 2055-5911

Open Access
Article
Publication date: 10 January 2022

Zahin Ansari

The study aims to summarize the 20 years of literature published in takaful between 2000 and 2019 and propose some key areas as the directions for future research.

4723

Abstract

Purpose

The study aims to summarize the 20 years of literature published in takaful between 2000 and 2019 and propose some key areas as the directions for future research.

Design/methodology/approach

The present study utilizes the systematic method of reviewing the literature. The SCOPUS database has been accessed, and 96 articles have been accounted for the analysis. The articles are grouped in their exclusive themes, such as consumer behavior, financial and nonfinancial performance, takaful models, human resources and governance.

Findings

Takaful research has widely covered marketing, finance, human resource, governance and stresses on its legal issues. Both qualitative and quantitative methodologies have been employed. The research gaps have been classified based on the respective areas. Large share of current body of takaful literature consists of the studies related to the application of behavioural theories to examine the behavioural intention to take up takaful services.

Originality/value

The study enriches the literature of takaful by reviewing articles according to their respective themes, thereby contributing to the significant findings missing from existing literature surveys.

Details

Asian Journal of Economics and Banking, vol. 6 no. 1
Type: Research Article
ISSN: 2615-9821

Keywords

Open Access
Article
Publication date: 5 November 2020

Safeer Ullah Khan, Ikram Ullah Khan, Ismail Khan, Saif Ud Din and Abid Ullah Khan

This study aims to evaluate cognitive, personal and environmental factors affecting investors’ behavioral intentions (BI) to invest in ṣukūk (Islamic investment certificates) in…

2616

Abstract

Purpose

This study aims to evaluate cognitive, personal and environmental factors affecting investors’ behavioral intentions (BI) to invest in ṣukūk (Islamic investment certificates) in Pakistan.

Design/methodology/approach

Data from 462 participants were collected through survey-questionnaires by using the convenient sampling technique. Hypothesized proposed relationships among the constructs were examined by applying the structural equation modeling (SEM) technique through smart partial least squares.

Findings

Compatibility, internal influence, external influence and intrinsic motivation were found to be significant predictors of investors’ BI to invest in ṣukūk. In addition, it was found that the religious aspect not only affects investors’ BI positively but also works as a moderator in the relationships between BI and both internal and external influence.

Practical implications

The results are quite helpful for ṣukūk issuers and regulators to consider cognitive, personal and environmental factors that might enhance the adoption of ṣukūk, especially among Muslim investors.

Originality/value

This study is among the few research studies that shed light on investors’ BI to invest in ṣukūk. Using social cognitive theory, the study investigates the cognitive, personal and environmental factors influencing ṣukūk adoption, which were previously unexplored. In addition, this is the first study that unveils the influential factors of ṣukūk adoption in Pakistan, a Muslim-majority country.

Details

ISRA International Journal of Islamic Finance, vol. 12 no. 3
Type: Research Article
ISSN: 0128-1976

Keywords

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