Development and Shari’ah issues of the Takaful industry in Malaysia – Effects of the Regulatory Framework on the Implementation and Growth

Objective – This paper aims to discuss and analyse whether the participation of long established conventional insurance conglomerates will be positive towards the development of the Takaful, particularly in the aspect of the operators' compliance towards Shari'ah requirements. Methodology/Technique – The study reviews literature in related area. Findings – Findings indicate that the merger and acquisition (M&A) which have taken place recently by other foreign insurers with our local Takaful operators show that the growth of this industry is promising for years to come for the foreign insurers to tap into our Takaful market. Novelty – The study attempts to provides insight on effect of foreign companys' merger and acquisition strategies in Takaful market. Type of Paper: Review