Penentu Pemilihan Takaful Dalam Kalangan Muslim Di Pulau Pinang
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Date
2021-03
Authors
Rapiai, Khairul Faizi Mohd
Journal Title
Journal ISSN
Volume Title
Publisher
Universiti Sains Malaysia
Abstract
The development of Islamic financial system, especially the takaful industry
internationally, has been the cornerstone when Malaysia was the first Asian state to
implement it in 1985. This positive growth indicator can be seen from the increasing
number of assets in the takaful industry from 2010 to 2017. In 2010 the number of
takaful assets was RM14.6 billion while, in 2017 it increased to RM1.837 billion.
However, this situation is quite different when in terms of takaful market share shows
a small rate of 14.66 per cent in 2017 compared to 40.34 per cent for insurance. This
poses an issue as the Muslim population in Malaysia is the largest group. Should the
market takaful celebration be supported by Muslims. This is also quite different when
there are more takaful branches in Penang than the number of Muslim population. Do
Muslim residents in Penang choose takaful based on religious, external and internal
factors? Based on this situation, this study looks at the factors that influence the
determinants of Muslim Muslim candidates. Thus, this study has three objectives.
First, identify the level of Muslim Muslim candidates for takaful. Second, analyzing
the factors that influence the determination of the choice of Muslim participants in
Penang against takaful. Third, it summarizes all the factors that influence the
determination of the choice of Muslim participants in Penang against takaful. Total of
461 complete questionnaires have been received from respondents comprising Muslim
participants. The results of the study were analyzed descriptively to determine mean
value, standard deviation and percentage. Besides that, person and regression
correlation test were also used. The findings of this study were analyzed using Statistical Packages for Social Sciences (SPSS) version 22.0. The findings showed
that Muslim participants in Penang had a positive selection level on all items in
diversity, external factors and internal factors through high mean score. While the
results of the analysis using correlation and regression find that factors influencing
positive and significant selection of takaful are halal and haram considerations,
quality use, good returns, reputation and recommendation, convenience and promotion
and advertising. The main findings in this study found that religious adherence factors
did not affect Muslim participants in Penang against takaful. While internal factors are
the factors that most influence the determinants of Muslim candidates in Penang with
Beta value of 0.519. The results of the study contributed significantly to the industry
and the determine of takaful selection among Muslim in Pulau Pinang.
Description
Keywords
Financial system