Nowadays, each country has adopted their own rules and regulation, and it’s usually different when we compare one state with another. The same situation applies to the insurance and Takaful industry for ASEAN countries especially Malaysia and Indonesia. Adopting the analysis content methodology, this study intends to analyze the similarities and differences of Takaful rules and regulations between Malaysia by Islamic Financial Services Act 2013 (IFSA 2013) and Indonesia are governed and Undang-Undang No 40 (UU40). IFSA (2013) is a particular Shariah compliance guideline for financial services including Takaful whereas UU40 only focus on Takaful and insurance service. The results of this study could provide a significant contribution to Takaful operators in ASEAN countries especially Malaysia and Indonesia.
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In-Text Citation: (Daud & Arifin, 2018)
To Cite this Article: Daud, W. N. W., & Arifin, N. M. (2018). A Comparative Study of the Takaful Rules and Regulation for Malaysia and Indonesia Act. International Journal of Academic Research in Business and Social Sciences, 8(12), 1249–1264.
Copyright: © 2018 The Author(s)
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