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Role of Takaful in Raising Higher Education Enrollment in Pakistan

In: Developments in Islamic Finance

Author

Listed:
  • Muhammad Imran

    (Institute of Business Administration)

  • Mohsin Khawja

    (King Fahd University of Petroleum and Minerals)

Abstract

This study analyzes how saving-based Takaful Takaful products can help people in PakistanPakistan in planning the future for their children’s education. We recorded feedback from a sample of 400 people belonging to the working class and have children under the age of 12 years. The survey assessed from them how they envision the education of their children. We find that saving-based Takaful products can help in providing children with a better and secure educational future. The views of the respondents clearly state the vitality of an investment plan which can be designed to provide adequate money for key educational milestones in a child’s career. The study helps determine the fact that planning for children’s education through Shariah Shariah -based products can help improve the overall enrollment rate in higher education in the country.

Suggested Citation

  • Muhammad Imran & Mohsin Khawja, 2017. "Role of Takaful in Raising Higher Education Enrollment in Pakistan," Palgrave CIBFR Studies in Islamic Finance, in: Syed Aun R. Rizvi & Irum Saba (ed.), Developments in Islamic Finance, pages 43-64, Palgrave Macmillan.
    • Handle: RePEc:pal:pcichp:978-3-319-59342-5_3
    DOI: 10.1007/978-3-319-59342-5_3
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