How do takaful operators choose which model to adopt? A case study from the Kingdom of Bahrain

Ahmed Mansoor Alkhan and M. Kabir Hassan

Journal of Islamic Accounting and Business Research, 2020, vol. 11, issue 9, 1677-1688

Abstract: Purpose - This paper aims to provide an analysis on howtakafuloperators choose, whichtakafulmodel to adopt when managing their insurance operations. Design/methodology/approach - The research uses a qualitative methodology and uses the Kingdom of Bahrain as a case study. A single/holistic case study design is used to holistically analyse how atakafuloperator chooses whichtakafulmodel to adopt when managing its insurance operations. Findings - The results reveal that generally,takafuloperators adopt either the hybrid wakala-mudharaba or wakala model oftakaful, depending on whether atakafuloperator is managing/investing the participants’ general or family fund, respectively. Research limitations/implications - As the empirical data and results pertain to one jurisdiction, it may be difficult to generalize the empirical findings upon other jurisdictions. Originality/value - This research may have contributed to knowledge by adding to literature empirical data and results in relation totakafulin the Kingdom of Bahrain that may have not previously existed in literature.

Keywords: Takaful; Islamic finance; Shariah; Hybrid Mudharaba-Wakala model; Takaful models (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jiabrp:jiabr-02-2020-0044

DOI: 10.1108/JIABR-02-2020-0044

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