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Islamic Financial Services Board and Its Regulatory Functions in the Islamic Financial Industry

  • Mohd Ma’Sum Billah
Chapter

Abstract

The demand for Islamic products becomes better due to the success of Islamic Financing and banking system in Malaysia. In order to create the confidence of consumer to involve in takaful industries as one of the Islamic products, efforts to develop and manage takaful business must be genuine and effective. The establishment of takaful companies in non-Muslim countries such as Australia Takaful Insurance Company, Takaful UK Ltd., and Takaful USA Management Services, shows that the implementation of Islamic insurance is acceptable by all human being in different races, culture and religion.

References

  1. Bank Negara Malaysia. (1999). The Central Bank and the Financial System in Malaysia, Bank Negara Malaysia, Kuala Lumpur, p. 259.Google Scholar
  2. Billah, M. M. (2001). Islamic Law of Trade & Finance: Some Contemporary Issues, IIUM Press, Kuala Lumpur, p. 64.Google Scholar
  3. Mohammad, R. (1995). Insurance Contract and Its Provision in the Islamic (Law) Shari’ah, International Islamic University Malaysia, Petaling Jaya, p. 88.Google Scholar
  4. Shafie, M. R. M. (1992), Insurance Law and the Islamic System of Mutual Insurance (Takaful) in Malaysia, IIUM, Petaling Jaya, pp. 80, 84.Google Scholar

Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Mohd Ma’Sum Billah
    • 1
  1. 1.Islamic Economics InstituteKing Abdulaziz UniversityJeddahSaudi Arabia

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