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Exploring consumers perspective of takaful in Turkey

Insurance is a system that protects individuals and assets against the dangers experienced and is actively used throughout the world. The existence of conventional insurance for many years guarantees consumers protection against risks to their property. But the conventional insurance is not shariah...

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Main Authors: Zakariyah, Habeebullah, Kap, Muhammed Serhad
Format: Conference or Workshop Item
Language:English
English
Published: 2021
Subjects:
HG8719 Islamic Insurance Takaful
Online Access:http://irep.iium.edu.my/93751/1/EXPLORING%20CONSUMERS%20PERSPECTIVE%20OF%20TAKAFUL%20IN%20TURKEY%20%282%29.docx
http://irep.iium.edu.my/93751/2/HABEEBULLAH%20ZAKAR%C4%B0YAH%20%281%29.pdf
http://irep.iium.edu.my/93751/
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spelling my.iium.irep.937512021-12-30T00:26:30Z http://irep.iium.edu.my/93751/ Exploring consumers perspective of takaful in Turkey Zakariyah, Habeebullah Kap, Muhammed Serhad HG8719 Islamic Insurance Takaful Insurance is a system that protects individuals and assets against the dangers experienced and is actively used throughout the world. The existence of conventional insurance for many years guarantees consumers protection against risks to their property. But the conventional insurance is not shariah complaint for Muslim investors because it contains uncertainty (Gharar), interest (Riba), gambling (Maisir), which are prohibited by Shariah. With the advent of Takaful (Islamic insurance), an alternative to conventional insurance and in line with Shariah principles, Muslim investors feel confident about protecting their properties from various types of risks. The objective of this study is to delve into the Takaful system and measure the consumer Takaful perception in Turkey, where the development of the Takaful system has just begun. In measuring Takaful perception, consumers ' knowledge, perception, awareness, and religious sensitivity about Takaful were examined. In order to determine these 4 variables, the online survey method in which 125 people participated was used. As a result, it has emerged that consumers in Turkey do not have enough information about Takaful. It has been concluded that if consumers are informed about Takaful, they may prefer Takaful. If Takaful is supported by the state and consumers are informed about Takaful, Takaful's share in the sector will increase. In addition, the establishment of a Retakaful company will also contribute significantly to the development of the Takaful sector in Turkey. In future studies, the Takaful system in Turkey can be examined from the point of view of Takaful Companies. Challenges experienced by Takaful Companies in the sector can be discussed, and suggestions for solutions can be presented. 2021-05-22 Conference or Workshop Item NonPeerReviewed application/pdf en http://irep.iium.edu.my/93751/1/EXPLORING%20CONSUMERS%20PERSPECTIVE%20OF%20TAKAFUL%20IN%20TURKEY%20%282%29.docx application/pdf en http://irep.iium.edu.my/93751/2/HABEEBULLAH%20ZAKAR%C4%B0YAH%20%281%29.pdf Zakariyah, Habeebullah and Kap, Muhammed Serhad (2021) Exploring consumers perspective of takaful in Turkey. In: 1st Karatay International Conference on Islamic Economics and Finance (KARCIEF), ONLINE. (Unpublished)
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
topic HG8719 Islamic Insurance Takaful
spellingShingle HG8719 Islamic Insurance Takaful
Zakariyah, Habeebullah
Kap, Muhammed Serhad
Exploring consumers perspective of takaful in Turkey
description Insurance is a system that protects individuals and assets against the dangers experienced and is actively used throughout the world. The existence of conventional insurance for many years guarantees consumers protection against risks to their property. But the conventional insurance is not shariah complaint for Muslim investors because it contains uncertainty (Gharar), interest (Riba), gambling (Maisir), which are prohibited by Shariah. With the advent of Takaful (Islamic insurance), an alternative to conventional insurance and in line with Shariah principles, Muslim investors feel confident about protecting their properties from various types of risks. The objective of this study is to delve into the Takaful system and measure the consumer Takaful perception in Turkey, where the development of the Takaful system has just begun. In measuring Takaful perception, consumers ' knowledge, perception, awareness, and religious sensitivity about Takaful were examined. In order to determine these 4 variables, the online survey method in which 125 people participated was used. As a result, it has emerged that consumers in Turkey do not have enough information about Takaful. It has been concluded that if consumers are informed about Takaful, they may prefer Takaful. If Takaful is supported by the state and consumers are informed about Takaful, Takaful's share in the sector will increase. In addition, the establishment of a Retakaful company will also contribute significantly to the development of the Takaful sector in Turkey. In future studies, the Takaful system in Turkey can be examined from the point of view of Takaful Companies. Challenges experienced by Takaful Companies in the sector can be discussed, and suggestions for solutions can be presented.
format Conference or Workshop Item
author Zakariyah, Habeebullah
Kap, Muhammed Serhad
author_facet Zakariyah, Habeebullah
Kap, Muhammed Serhad
author_sort Zakariyah, Habeebullah
title Exploring consumers perspective of takaful in Turkey
title_short Exploring consumers perspective of takaful in Turkey
title_full Exploring consumers perspective of takaful in Turkey
title_fullStr Exploring consumers perspective of takaful in Turkey
title_full_unstemmed Exploring consumers perspective of takaful in Turkey
title_sort exploring consumers perspective of takaful in turkey
publishDate 2021
url http://irep.iium.edu.my/93751/1/EXPLORING%20CONSUMERS%20PERSPECTIVE%20OF%20TAKAFUL%20IN%20TURKEY%20%282%29.docx
http://irep.iium.edu.my/93751/2/HABEEBULLAH%20ZAKAR%C4%B0YAH%20%281%29.pdf
http://irep.iium.edu.my/93751/
_version_ 1720979908059987968
score 13.211869

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