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Developments in Islamic Finance pp 43–64Cite as

Palgrave Macmillan

Role of Takaful in Raising Higher Education Enrollment in Pakistan

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Part of the book series: Palgrave CIBFR Studies in Islamic Finance ((PCSIF))

Abstract

This study analyzes how saving-based Takaful products can help people in Pakistan in planning the future for their children’s education. We recorded feedback from a sample of 400 people belonging to the working class and have children under the age of 12 years. The survey assessed from them how they envision the education of their children. We find that saving-based Takaful products can help in providing children with a better and secure educational future. The views of the respondents clearly state the vitality of an investment plan which can be designed to provide adequate money for key educational milestones in a child’s career. The study helps determine the fact that planning for children’s education through Shariah -based products can help improve the overall enrollment rate in higher education in the country.

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References

  • Akram, M. & Khan, F. J. (2007). Public provision of education and government spending in Pakistan (Working Paper No. 40). Islamabad: Pakistan Institute of Development Economics (PIDE).

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  • Asmatullah. (2009). Takaful kee Sharai Haisyat. Karachi: Idaratul Ma’arif.

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  • Billah, M. M. (2008). Islamic wealth management & world view. www.takaful.coop/doc_store/takaful/WealthMgt.doc.

  • Fisher, O. (2008). Takaful markets & products. A training reference manual. Bahrain: Unicorn Investment Bank.

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  • Shafique, K. (2009). Budget cuts for higher education: A sad state of affairs, STEP (Science, technology and Education in Pakistan). http://www.nextstepforward.net.

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Author information

Authors and Affiliations

  1. Institute of Business Administration, Karachi, Pakistan

    Muhammad Imran

  2. Center of Research Excellence for Islamic Banking & Finance, Research Institute, King Fahd University of Petroleum and Minerals, Dhahran, Saudi Arabia

    Mohsin Khawja

Authors
  1. Muhammad Imran
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  2. Mohsin Khawja
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Editor information

Editors and Affiliations

  1. Lahore University of Management Sciences (LUMS), Lahore, Pakistan

    Syed Aun R. Rizvi

  2. Institute of Business Administration, Karachi, Pakistan

    Irum Saba

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Imran, M., Khawja, M. (2017). Role of Takaful in Raising Higher Education Enrollment in Pakistan. In: Rizvi, S., Saba, I. (eds) Developments in Islamic Finance. Palgrave CIBFR Studies in Islamic Finance. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-59342-5_3

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  • DOI: https://doi.org/10.1007/978-3-319-59342-5_3

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  • Publisher Name: Palgrave Macmillan, Cham

  • Print ISBN: 978-3-319-59341-8

  • Online ISBN: 978-3-319-59342-5

  • eBook Packages: Economics and FinanceEconomics and Finance (R0)

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