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Effect of Takaful Models on Performance of Takaful Operators

Empirical Economic Review

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ISSN 2522-2465
2415-0304
 
Authentication Code dc
 
Title Statement Effect of Takaful Models on Performance of Takaful Operators
 
Personal Name Saeed, Maryam
PHD Scholar, Islamic Banking and Finance (IBF), University of Management and Technology, Lahore, Pakistan.
 
Summary, etc. Purpose of this study is to analyze the performance in terms of profit of different takaful models being used in different countries in the world. It is both quantitative and qualitative research. In qualitative research, literatures is reviewed by using content analysis technique. Many takaful models are being used by many takaful operators i.e. Wakala, Wakal-Waqf, Mudharabah, Mudharabah-Wakla. For examining performance of different takaful models of five takaful operators, Secondary data on profit earning from 2008 to year 2017 is taken. Results and graphs represent the higher performance of Abu Dhabi National Takaful working on Mudharabah and Wakala Model which showed higher profit as compared to all takaful operators. The finding of this study is essential for Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) for ensuring the standardization of the services and structures that could be given within the frame of mutual help. Takaful operators who can also use the above model i.e. Mudharabah and Wakala Model for enhancing their performance in financial market of insurance. Governments should enact a law for operations and rulings of standardized takaful models adopted by takaful operators and liberalize the takaful market via removal of tariff.
 
Publication, Distribution, Etc. Department of Economics - University of Management and Technology
 
Electronic Location and Access application/pdf
https://ojs.umt.edu.pk/index.php/eer/article/view/245
 
Data Source Entry Empirical Economic Review; Vol 2 No 2 (2019): Winter 2019
 
Language Note eng
 
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