Takaful industry has experienced rapid growth and gained wider acceptance among Muslims and non-Muslims. The growth of takaful industry has contributed to economic development especially in the Islamic financial system. In general, this study discusses the perception of Muslim on family
takaful scheme participation in Klang Valley, Malaysia. In particular, this study aims to identify the perception of Muslim on family takaful scheme participation, the sources that might influence the intention to participate into the scheme, the perception on the importance of Islamic element
in purchasing insurance, and problems that might impede individual’s intention from participating in family takaful scheme. This study uses semi-structured interviews question to collect the data. Interview data are analyzed using thematic analysis. The result shows that Muslim perception
and intention to participate in family takaful scheme is mixed. While most of the respondents agree that family takaful is a necessity, money was the main factor that impedes their intention from participating in the scheme. This study suggests the influence of media and takaful agent in enhancing
Muslim awareness, knowledge and intention to participate in family takaful scheme.
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Document Type: Research Article
International Business School, Universiti Teknologi Malaysia, Jalan Sultan Yahya Petra, 54100, Kuala Lumpur, Malaysia
Department of Shariah and Economics, Academy of Islamic Studies, Universiti Malaya, 50603 Kuala Lumpur, Malaysia
Publication date: April 1, 2017
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