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Abstract
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Article Information:
Retakaful Pool Framework for Takaful Operators in Malaysia: Experts’ Opinions
Sheila Nu Nu Htay, Mustapha Hamat, Wan Zamri Wan Ismail and Syed Ahmed Salman
Corresponding Author: Sheila Nu Nu Htay
Submitted: January 01, 2014
Accepted: January 11, 2014
Published: June 05, 2014 |
Abstract:
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Malaysia is trying to position itself as a hub of Islamic finance and the government is promoting the Islamic finance industry. Takaful industry is rapidly increasing however, Retakaful industry is not catching up with the dynamic and complex needs of Takaful industry. In addition, the existence of the limited number of Retakaful operators causes Takaful operators not much bargaining power in negotiating the Retakaful agreement andTakaful operators have no option except to follow the requirements set by Retakaful operators. Thus, this study intends to propose framework forRetakaful pool mechanism by seeking the opinions of experts in Malaysia. By introducingRetakaful pool among the Takaful operators, it will create mutual and friendly business environment among them and reduce dependency on Retakaful operators. In addition, the experts believe that Retakaful pool will bring more benefit to the Takaful operators, compared to the traditional Retakaful method, i.e., engaging with Retakaful operators.
Key words: Malaysia, pool, Retakaful, Takaful, , ,
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Cite this Reference:
Sheila Nu Nu Htay, Mustapha Hamat, Wan Zamri Wan Ismail and Syed Ahmed Salman, . Retakaful Pool Framework for Takaful Operators in Malaysia: Experts’ Opinions. Research Journal of Applied Sciences, Engineering and Technology, (21): 4530-4534.
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ISSN (Online): 2040-7467
ISSN (Print): 2040-7459 |
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