Problems and Prospects of Islamic Banking: a case Study of Takaful

Ahmad, Mohd. Izhar and Masood, Tariq and Khan, Mohd Saeed (2010): Problems and Prospects of Islamic Banking: a case Study of Takaful.

Abstract

The paper is an attempt to analyse the working of Takaul in the world and its popularity in the insurance sector in the world. Keeping in view of Sharia we have also tried all possible aspects of insurance system popular in the world and tried to look at its possibility to familiarize more amongst Muslims of the world. It is observed that customer awareness remain low, however this is often attributed to a limited understanding of Islamic finance in the banking and insurance world. We wish to have a proper salesmanship and advertisement of Islamic banking system in India and all around the world.

• Item Type: MPRA Paper
• Language: English
• Keywords: Islamic Banking, Takaful
• Subjects: A - General Economics and Teaching > A1 - General Economics > A10 - General

References

1. Ahmed, H. 2002. “Financing Micro Enterprises: An Analytical Study of Islamic Microfinance Institutions,” Journal of Islamic Economic Studies 9(2).

2. Az-Zuhayli, W. 2006. “The Juridical Meaning of Riba,” in Abdulkader Thomas (ed.). Interest in Islamic Economics: Understanding Riba. Oxon: Routledge.

3. Gibbons, D. and Kassim, S. 1990. Banking on the Rural Poor in Peninsular Malaysia. Penang: Center for Policy Research USM.

4. Chapra, M.U. 1992. Islam and the Economic Challenge. Leicester: Islamic Foundation.

5. De Aghion, B.A. and Murdoch, J. 2005. The Economics and Microfinance. Cambridge: MIT Press.

6. Dhumale, R. and Sapcanin, A. 1999. An Application of Islamic Banking Principles to Microfinance.

7. Technical Note, UNDP.

8. Ferro, N. 2005. Value through Diversity: Microfinance and Islamic Finance, and Global Banking. Working Papers, Foundazione Eni Enrico Mattei.

9. Haron, A. and Hock, J.L.H. 2007. “Inherent Risk: Credit and Market Risks,” in Archer, S. & Karem, R.A.A.(ed.). Islamic Finance: The Regulatory Challenge, Singapore: Wiley.

10. Morduch, J. 1999. “The Microfinance Promise,” Journal of Economic Literature 37, pp. 1569-1614.

11. Wilson, R. 2000. “Islamic Banking and Its Impact,” in Asma Siddiqi (ed.). Anthology of Islamic Banking. London: Institute of Islamic Banking & Insurance, pp. 69-73.

12. Wilson, R. 2007. “Making Development Assistance Sustainable through Islamic Microfinance,”

13. IIUM International Conference on Islamic Banking and Finance. Kuala Lumpur, Malaysia, April.

14. Qureshi, A.I. 1991. Islam & Theory of Interest. Lahore: Muhamad Ashraf.

15. Saeed, A. 2004. “Islamic Banking and Finance: In Search of a Pragmatic Model,” in Hooker, V. & Saikal, A.(ed.). Islamic Perspectives on the New Millenium. Singapore: ISEAS.

16. Siddiqui, M.N. 2001. “Islamic Banking: True Modes of Financing,” New Horizon, pp. 15-20.

17. Stiglitz, J.E. 1990. “Peer Monitoring and Credit Markets,” World Bank Economic Review 4(3), pp. 351-366.

18. Ziauddin, A. 1991. “Islamic Banking at the Crossroads,” in Sadeq, A.H., Pramanik, A.H. and Nik

19. Hassan, N.H. (ed.), Development & Finance in Islam. Kuala Lumpur: International Islamic University Press, pp. 155-171.