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Breaking Barriers: Customer Acceptance and Challenges of Waqf-Takaful Death Compensation Products in Malaysia

Author

Listed:
  • Sukriah Ismail
  • Marina Abu Bakar
  • Hanizan Shaker Hussain
  • Mohamad Saufee Anuar
  • Md Nasri Ali

Abstract

This study aims to analyze the acceptance and challenges of waqf-takaful death compensation products in Malaysia, focusing on factors such as product knowledge, education, marketing, customer attitude, and long-term benefits. A quantitative approach using a descriptive cross-sectional survey method was employed, with data collected via a structured questionnaire. The findings revealed that product knowledge, customer attitude, and marketing strategies significantly influence acceptance. However, challenges such as limited awareness, inadequate promotion, and accessibility issues were also identified. The study highlights the importance of improving customer education and refining marketing strategies to enhance the adoption of waqf-takaful products.

Suggested Citation

  • Sukriah Ismail & Marina Abu Bakar & Hanizan Shaker Hussain & Mohamad Saufee Anuar & Md Nasri Ali, 2025. "Breaking Barriers: Customer Acceptance and Challenges of Waqf-Takaful Death Compensation Products in Malaysia," Information Management and Business Review, AMH International, vol. 17(1), pages 80-89.
    • Handle: RePEc:rnd:arimbr:v:17:y:2025:i:1:p:80-89
    DOI: 10.22610/imbr.v17i1(I).3904
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    References listed on IDEAS

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    2. Tajudeen Olalekan Yusuf, 2012. "Prospects of Takaful’s (Islamic Insurance) Contributions to the Nigerian Economy," Journal of Finance and Investment Analysis, SCIENPRESS Ltd, vol. 1(3), pages 1-12.
    3. Mohd M. Billah & Ezzedine GhlamAllah & Christos Alexakis, 2019. "Encyclopedia of Islamic Insurance, Takaful and Retakaful," Books, Edward Elgar Publishing, number 18149.
    4. Nursyuhadah Abdul Rahman & Zurul Aisya Osman & Nur Syairah Ani & Zulkarnian Ahmad, 2019. "Religious and Socioeconomic Implications of Islamic Insurance: A Review," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(5), pages 313-320, August.
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    6. Azhar Alam & Bayu Arie Fianto & Ririn Tri Ratnasari & Aidi Ahmi & Fransiska Putri Handayani, 2023. "History and Development of Takaful Research: A Bibliometric Review," SAGE Open, , vol. 13(3), pages 21582440231, July.
    7. Kamarul Ariffin Mansor & Raden Mohd Ngisomuddin Masduki & Masilah Mohamad & Nursidrah Zulkarnain & Nor Atikah Aziz, 2015. "A Study on Factors Influencing Muslim’s Consumers Preferences Towards Takaful Products In Malaysia," Romanian Statistical Review, Romanian Statistical Review, vol. 63(2), pages 78-89, June.
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