Indicators of Takaful Awareness among Kuwaitis

Abstract

This research examines the awareness of takaful among Kuwaitis. It endeavours to determine any significant differences and conformities between demographic variables and the four aspects of awareness concerning general information, the features of takaful, shari'ah compliances, and motives of takaful. The research adopted a quantitative research design. Descriptive, T-test, ANOVA, and Discriminant analyses were employed to analyse the data collected via questionnaires. The research sample consisted of a total of 640 Kuwaitis from which 52% of the participants have not heard of takaful despite the existence of 14 takaful operators in Kuwait. More than 60% of the participants were unsure as to how their contributions would be invested. They were particularly concerned whether it be shari'ah compliant or not. In addition, two-thirds of the respondents were unaware that they were eligible to receive part of the surplus, if any.

Factors influencing Bumiputera contractors' acceptance of the contractor's all risk takāful product

“…It is noted that the results of some of the past studies were contradictory whereby awareness had a negative impact on the acceptance of tak aful, such as in the case of Akhter and Hussain (2012), Ismail et al (2013), Soualhi and al-Shammari (2015), Md Hussein and Ab Rahman (2016b) and Salleh and Laksana (2018). Nonetheless, due to mixed and inconclusive results from past empirical studies, this study develops the following proposition about the expected relationship between Bumiputera contractors' awareness and its influence on their selection of the CAR tak aful product:…”

Roles of Awareness and Knowledge in Determining People’s Perception Towards Takaful: Evidence from Southwestern Afghanistan

“…Knowledge about Takaful intricacies, operational mechanisms, and its compatibility with Sharia principles contributes to a deeper understanding and perception of the concept (Bhatti & Md Husin, 2020).Studies have shown that individuals possessing comprehensive knowledge of Takaful exhibit a greater inclination towards adopting Takaful arrangements and expressing positive attitudes towards its value proposition (Maiyaki & Ayuba, 2015). (Soualhi & Shammari, 2015),conducted an exploratory study in India to examine the The study also highlighted that although Takaful has considerable potential in Pakistan, its market share remains lower than that of traditional insurance due to a lack of understanding. The authors recommended that Takaful operators focus on raising awareness about Takaful and develop more innovative products to enhance its market presence.…”

“…The word Takaful comes from the Arabic noun "Kafala," which means "guaranteeing each other," (Rafeea, n.d.). The history of Islamic insurance, according to (Soualhi & Shammari, 2015), began in Mecca and Medina under the "Aquila" system, in which tribes mutually agreed to pay indemnity in the event of a loss to another tribe member.…”

Contractor Intention on Contractors’ All Risk Takaful Product in Malaysian Construction Industry

“…Variable of intention adapted from (Aziz et al, 2018;Nor & Pearson, 2008;Taylor & Todd, 1995). In addition, four (4) variables which are attitude, awareness, understanding and subjective norm adapted from (Amin, Abdul Rahman, & Abdul Razak, 2013;Aziz et al, 2018;Soualhi & Al Shammari, 2015). Meanwhile variable of religiosity adapted from (Alam, Janor, Zanariah, & Ahsan, 2012;Aziz et al, 2018;Bassir et al, 2014).…”