This study aims to address the issue of low market penetration of family takaful products by assessing its compatibility in relation to their conventional competitors. Using comparative case studies approach, this study focuses on the Individual Family Takaful vis-a- vis Individual Life Insurance products. The purpose is to identify similarities and differences in product features, attributes and benefits. Based on this exploratory study, it can be concluded that in terms of product concepts, both takaful and the conventional products are quite compatible. However, the conventional products are more competitive, as they are able to provide varieties to the value added features. This study also concludes that takaful products need to be more competitive and innovative in order to cater for the increasingly sophisticated customers who demand more innovative products rather than the generic insurance product.

This research aims to explore the determinants of customer switching behavior and switching barriers in retail banking services. Therefore, the research was divided into two study, Study I: Switching Determinants and Study II: Switching Barriers. The study used self-administered survey for data collection method. Both self-administered survey were designed to collect data on three parts; Part A to measure customers' knowledge and understanding towards Islamic Banking system, Part B on switching determinants / switching baniers and Part C on respondents profile. The findings in Part A for Study I and 11 stated that customers are aware and understand about the Islamic banking system and services. Meanwhile, findings in Part B for Study I suggested seven factors influencing customers' decision to switch. The factors were namely employee and service failure, pricing, attraction, inconvenience, waiting, location and involuntary. On the other hand, findings for Part B, Study I1 generated an eight-factor solution. These factors provide insights on factors influencing customers' decision to stay with their current bank. Among the factors were service recovery, location, pricing, switching inconveniences, convenience to stay, switching cost and confidence, relationship investment and lastly, apathy. To summarize, it is hoped that these fmdings will provide guidelines and suggestion to the banker on how to attract new customer, avoid existing customers from switching and improve customer loyalty thereby remain competitive.

Deposit insurance is an insurance system established by policy makers in many countries to protect depositors against the loss of their deposits which are placed in bank(s) in the event of a 'run' on a bank. The United States was the first country to establish an official deposit insurance scheme during the Great Depression banking crisis in 1934, during which large number of customers of a bank withdrew their deposits because they feared it might become insolvent. In Malaysia, the system was launched on September 2005, and administered by the Malaysia Deposit Insurance Corporation (MDIC). This article will discuss the concept and historical aspect of deposit insurance and also the operation of Malaysia Deposit Insurance Corporation (MDIC). In addition to that, this article also discusses the Shariah perspective on this measure. A short survey was also administered to determine the public awareness and understanding of the scheme.

The case is about how Maju Takaful Resources (MTR), a takaful consultation firm, dealt with their agents' grievances regarding the regulation of Replacement of Policy (ROP) imposed by Bank Negara Malaysia (BNM). The regulation was imposed to curb unwarranted replacement of life insurance policy and to ensure the interest of the policyholders is continuously safeguarded. The regulation specified that agents shall not receive any commission for any policy which is construed as ROP. However, the regulation has placed MTR at a great disadvantage, since most of their clients, whom previously subscribed to conventional life insurance policy wished to switch to family takaful (a shariah-compliant version of life insurance). Unfortunately, according to ROP regulation, these cases were still considered as ROP. The case allowed students to learn the effects of ROP on different stakeholders within the insurance and takaful industries in Malaysia.

This study delves into the factors influencing financial well-being among Malaysian university students, addressing the rising debt concerns among young adults under 30. This study is grounded in the Social Cognitive Theory (SCT). Data were gathered from 299 university students through a self-administered survey, which was subsequently analyzed with Partial Least Square – Structural Equation Modelling. The findings indicate that an internal locus of control significantly influences financial attitude, financial behavior, and financial confidence. Notably, financial behavior and financial confidence are crucial predictors of financial well-being, while financial attitude was found to be insignificant. Additionally, financial behavior and financial confidence mediate the relationship between internal locus of control and financial well-being, whereas financial attitude does not serve as a mediator. The results suggest that individuals with a strong internal locus of control are more likely to exhibit positive financial behaviors and greater financial confidence, ultimately enhancing their financial well-being. This study strengthens the SCT model and contributes new dimensions to the literature by examining financial attitude, financial behavior, and financial confidence as mediating factors influencing university students' financial well-being. The results also provide policymakers and relevant agencies with useful information on how to further improve university curricula and foster sound financial practices to raise the financial well-being of university students.

Market efficiency in capital markets is used to explain the degree to which prices reflect all available and relevant information about the fundamental value of the securities to help investors make informed decisions. Sukuk are priced according to the value of the assets backing them. The aim of the paper is to measure market efficiency of three Malaysian sukuk indices namely Bloomberg AIBIM Bursa Malaysia Corporate Sukuk Index (AIBIM), Bloomberg Malaysian Sukuk Ex-MYR Index (EXMYR) and Malaysian Foreign Currency Sukuk Index (MFCSUKUK). Daily returns of the three sukuk indices are collected for the period of 2010 until 2015. The efficiency was measured using GARCH-in-Mean (GARCH-M) estimation to identify different types of sukuk market efficiency. The findings indicate that EX-MYR and MFCSUKUK indices display weak form efficient market behaviour while AIBIM falls under the inefficient category. The inefficient market signals that all public information might not be fully reflected in the price, hence there is room for bargaining process or prices could be under or over-valued. For industry players, sukuk structural inefficiencies and sectorial mispricing behavior create investment opportunities due to possible existence of excess profit. For policy makers, an extreme case of inefficient market leads to market failure and welfare loss.

This paper aims to analyze the Islamic life insurance policy or family takaful plan (FTP) purchasing decision among the Malaysian Muslim. Malaysian Islamic insurance (takaful) industry has proven to be a viable alternative in providing insurance coverage to the Muslim community. However, despite the commendable growth, the leve1 of takaful market penetration, specifically among the M u s h is relatively low compared to its conventional counterparts. In light of the above issue, this study will look at Malaysian M u s h purchasing behavior, specifically the life insurance vis-a-vis family takaful. A survey was conducted based on convenience sampling in Klang Valley. The findings revealed that respondents who are likely to subscribe the policy are those working in the private sectors, belonging to the middle income group, married and having some knowledge about the plan. In terms of sources of information on FTP,the results show that takaful agents/staff is an important medium in creating awareness and promoting takaful to the public. In addition to that almost half of the respondents subscribed their policy with Syarikat Takaful Malaysia Bhd (STMB), as the company is the main player in the industry. In terms of reasons for owning f a d y takaful plan, the most quoted reason is 'The Need for Protection'. 'Financia1 Constraint', on the other hand, is the most cited reason for non-policyholders.

This technical report contains cases, namely "ETCS : Touch 'n Go"; "The Roaring Tiger: Relocating Zoo Negara"; and "Usahawan Francais : Antara Mimpi dan Realiti". The case "ETCS: Touch 'n Go" presented an issue relating to the implementation of the government policy on the single electronic toll collection system (ETCS). "The Roaring Tiger: Relocating Zoo Negara" looked at the factors surrounding the discussions to relocate Zoo Negara. While "Usahawan Francais: Antara Mimpi dan Realiti" looked at the challenges facing a small business from a franchisee's perspective. The cases have valuable learning points and together with teaching guides, they could be useful for teaching-learning purposes. However, it must be noted that the cases are written as case research exercises and they are not meant to evaluate good or bad management practices. Any use of the cases and reference to them must be accompanied with written permission of the author(s) concerned.

Effective 1 October 2020, Bank Negara Malaysia (BNM) Life Framework required all Takaful Operator to comply with the new Minimum Allocation Rate (MAR) requirement together with the liberalization of commission structure. Due to the implementation of MAR, few Takaful Operators decided to withdraw their Investment Link plans from the shelves and launches more Family Takaful savings plans. The implementation of the new MAR primarily to establish a sustainable fund for the participant, but the operators look at it as a tight policy that could affect mostly on commission structure for agents. From the distribution side, reducing the commission structure could lead to the withdrawal and reduction of agents. For big players, they can still offer this product by reducing profit margins and an increase in the volume of sales. For small and mid-players, the innovation in Takaful Model is crucial to ensure they can offer a similar product without contradicting the new MAR. This paper will propose an innovation for Takaful Models that could help the Takaful industry remain relevant in the market.

This paper evaluates and analyses contents on several selected journals on Islamic economics and finance in Malaysia between 1977-3003. A brief introduction on the purpose, importance and structure of the journals are highlighted followed by its history, within the first part of the article. This paper also covers the background of the journals, the methodology and the reviews the relevant articles. Apart from that descriptive statistics concerning the classification of field of study of study each journal and subtopics of articles reviewed were also presented. A brief contents analysis of Islamic economics system, Islamic finance and banking, Islamic economic development and Islamic management articles were discussed to examine its prospect for research in the future. This review found that the scope and areas of interest, as indicated by the publications are narrow and few. This paper concludes with a discussion on the needs to proliferate the research and publication in the areas of Islamic banking and finance, Islamic economics and Islamic management.

The country's economy has benefited greatly from the services sector, which plays a major role in economic development and provides the majority of the gross domestic product (GDP) support for a country. The service industry has paid considerable attention to research on the antecedents of customer loyalty over the years, including the telecommunications sector. Malaysia's telecommunications service providers prioritize customer loyalty as it is crucial for generating repeat business and potential referrals. The study investigates the correlation between service quality, brand image, customer satisfaction, and customer loyalty among Malaysians towards telecommunications service providers. The study utilized a convenience sampling technique and an online questionnaire to gather data from 254 respondents. The data were analysed using partial least squares structural equation modelling (PLS-SEM). The findings revealed that customer loyalty was influenced by service quality, brand image, and customer satisfaction. In addition, service quality successfully predicts customer satisfaction. Also, the mediation results showed that customer satisfaction mediates the relationship between service quality and customer loyalty. This research contributes to the theoretical advancement of the service literature by examining the impact of service quality, brand image, and customer satisfaction on customer loyalty. In practice, this study offers valuable insights to service providers on how to consistently enhance and ensure service quality and brand image while satisfying and retaining customers.