Management of surplus in Takaful operations : Malaysian experience /

One of the most controversial issues within the takaful industry is the underwriting surplus at the end of the financial year of the takaful operator. In fact, the practice of managing, distributing and sharing the underwriting surplus of takaful operation varies depending on legal infrastructure, r...

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Bibliographic Details
Main Author: Ali, Salim Ali Salim Ali
Format: Thesis
Language:English
Published: Kuala Lumpur : Institute of Islamic Banking and Finance, International Islamic University Malaysia, 2010
Subjects:
Online Access:Click here to view 1st 24 pages of the thesis. Members can view fulltext at the specified PCs in the library.
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040 |a UIAM  |b eng 
041 |a eng 
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100 1 |a Ali, Salim Ali Salim Ali   |9 354091 
245 1 |a Management of surplus in Takaful operations :  |b Malaysian experience /  |c by Salim Ali Salim Ali Al- Ali 
260 |a Kuala Lumpur :  |b Institute of Islamic Banking and Finance, International Islamic University Malaysia,   |c 2010 
300 |a xiii, 142 leaves :  |b ill. ;  |c 30cm. 
336 |2 rdacontent 
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500 |a Abstracts in English and Arabic. 
500 |a "A research paper submitted in partial fulfilment of the requirements for the degree of Master of Science in Islamic Banking and Finance."--On t.p. 
502 |a Thesis (MIBF)-- International Islamic University Malaysia, 2010 
504 |a Includes bibliographical references (leaves 135-139) 
520 |a One of the most controversial issues within the takaful industry is the underwriting surplus at the end of the financial year of the takaful operator. In fact, the practice of managing, distributing and sharing the underwriting surplus of takaful operation varies depending on legal infrastructure, regulatory requirements and adopted takaful model by particular takaful operator. It is worth mentioning that Shari 'ah scholars are not on agreement whether takaful operator is allowed to share in underwriting surplus or not. Consequently, there are two main practices centred in Middle East and Malaysia pertaining to sharing of underwriting surplus. Most of takaful operators do not share the underwriting surplus in Middle East, whereas most of Malaysian takaful operators share the underwriting surplus. The researcher tried to cover most relevant literatures pertaining to the subject matter. Furthermore, the researcher focused on practices of Malaysian takaful operators of managing and sharing the recorded underwriting surplus. Thus, the researcher provided conceptual and operational framework of managing underwriting surplus within the takaful industry. At the end of the research, the researcher believes that it is essential to balance between the interest of takaful participants and takaful operators. In other words, justice and fairness practices must be put in place in relation to sharing and distributing al-Shari'ah (Shari'ah objectives) as well as core principles of takajul system. Moreover, standardisation, harmonization and regulation bodies shall put in place Shari 'ah parameters to ensure equity practices of managing of underwriting surplus. 
650 0 0 |a Insurance  |z Malaysia  |9 63094 
650 0 0 |a Insurance  |x Religious aspects Islam  |9 354092 
650 0 0 |a Surplus (Economics)  |9 354093 
650 0 0 |a Insurance companies  |x Management  
655 |a Theses, IIUM local 
690 |a Dissertations, Academic  |x Institute of Islamic Banking and Finance.  |z IIUM 
691 |a Takaful (Islamic insurance)  |9 29205 
710 |a International Islamic University Malaysia.  |b Institute of Islamic Banking and Finance. 
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