Educational Approach to Foster Knowledge and Understanding of Takaful among Malaysians

Juliana Arifin, Nurul Syazwani Mohd Noor, Puspa Liza Ghazali, Roslida Abdul Razak and Hamizah Muhammad
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Juliana Arifin: Faculty of Business & Management, Universiti Sultan Zainal Abidin, Kampus Gong Badak, 21300 Kuala Nerus, Terengganu, MALAYSIA
Nurul Syazwani Mohd Noor: Faculty of Business & Management, Universiti Sultan Zainal Abidin, Kampus Gong Badak, 21300 Kuala Nerus, Terengganu, MALAYSIA
Puspa Liza Ghazali: Faculty of Business & Management, Universiti Sultan Zainal Abidin, Kampus Gong Badak, 21300 Kuala Nerus, Terengganu, MALAYSIA
Roslida Abdul Razak: Faculty of Business & Management, Universiti Sultan Zainal Abidin, Kampus Gong Badak, 21300 Kuala Nerus, Terengganu, MALAYSIA
Hamizah Muhammad: Academy of Contemporary Islamic Studies, Universiti Teknologi MARA Cawangan Terengganu, Kampus Dungun, 23000 Sura Hujung, Dungun, Terengganu, MALAYSIA

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 8, 4462-4468

Abstract: Takaful, an Islamic insurance concept, is crucial for financial planning, yet many Malaysians remain unaware of its benefits and functionalities. Hence, this study explores an educational approach to enhance the knowledge and understanding of Takaful, particularly among Malaysian citizens. The research targets a sample of 500 Malaysian respondents, selected through random sampling techniques to ensure a broad representation. The data will be collected using an online survey questionnaire, focusing on respondents’ knowledge and understanding of Takaful concepts and principles. Structural Equation Modeling (SEM) will be employed to analyze the data of this study. The findings will provide insights into the current level of Takaful knowledge among Malaysians and identify key areas where educational interventions could be most effective. This study also aims to contribute to the broader adoption of Takaful by equipping the Malaysian population with the necessary knowledge to make informed financial decisions in line with Islamic principles. By prioritizing Takaful education, Malaysia can strengthen its position as a leader in Islamic finance and promote a deeper understanding of Shariah-compliant financial products.

Date: 2024
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