2019_The Integration Model of Mortgage Takaful in Islamic Home Financing
| Format: | General Document |
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| collectionurl | https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection3 |
| copyright | Copyright©PWB2025 |
| country | Malaysia |
| date | 2019-06-13 |
| format | General Document |
| id | 15870 |
| institution | UniSZA |
| internalnotes | Sila masukkan subject wajib Dissertations, Academic. Terima kasih... |
| originalfilename | 15870_c13cf0537f81047.pdf |
| person | Sharifah Arni Bt Syed Jaaffar |
| recordtype | oai_dc |
| resourceurl | https://intelek.unisza.edu.my/intelek/pages/view.php?ref=15870 |
| sourcemedia | Server storage Scanned document |
| spelling | 15870 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=15870 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection3 General Document Malaysia Library Staff (Top Management) Library Staff (Management) Library Staff (Support) Terengganu Faculty of Business and Management English application/pdf 1.5 Server storage Scanned document Universiti Sultan Zainal Abidin UniSZA Private Access Universiti Sultan Zainal Abidin SAMBox 2.3.4; modified using iTextSharp™ 5.5.10 ©2000-2016 iText Group NV (AGPL-version) Copyright©PWB2025 199 2019-06-13 15870_c13cf0537f81047.pdf Sharifah Arni Bt Syed Jaaffar Integration Model Of Mortgage Takaful Islamic Home Financing Islamic finance Home ownership—Finance Insurance, Islamic Mathematical models 2019_The Integration Model of Mortgage Takaful in Islamic Home Financing Islamic banking is defined as a banking system that is based on the principles of Islamic law (also known as shariah) and guided by Islamic economics. Two basic principles behind Islamic banking are the sharing of profit and loss and, significantly, the prohibition of the collection and payment of interest. By looking at the importance of shariah guideline and consumers needs in Islamic home financing, it is important to use the variable that affect the consumer acceptance on a new product hence, the aim of this study is to identify whether there are correlations among knowledge, quality, benefit, marketing towards customers acceptance on a new product. The study investigated the current Islamic Home Financing in Malaysia to identify their strengths and weaknesses as for references to the new model. A mathematical derivation of integration model, named as Barakah model. The model is gaining from an existing formula and improvised it into an acceptable installment that offers a win-win situation for both parties within shariah guidelines. Then, another mathematical formulation of integrated Barakah model with takaful coverage. As for the public acceptance of the Barakah model, the study conducted a survey by distributing 301 sets of questionnaires and performed inferential statistical analysis to see the correlation among the 5 variables in determining the acceptance level of the model. Furthermore, the validation of the model is distributed to selected Islamic Financial Institution (IFI) expertise in Malaysia. The findings from the mathematical model showed that by using the Barakah model, the monthly payment is lower than the existing installment offered by IFI that aligned with shariah guidance. The allowable profit taken for the calculation is less than 1/3 from its principal. Barakah model with the minimum premium contribution of RM30, that includes special features are khairat, loss and effort to work and hospital bill insert but with worth value to pay by the client on the monthly basis that included in the monthly installment. By using Statistical Package for the Social Sciences (SPSS), The p-value = 0.392 (p > 0.05) on the one-sample Kolmogrov-Smirnov test statistics output shows that the data collected violate the assumption of normality distribution. Due to the violation of normality distribution, Pallant had suggested using parametric technique analysis. The data showed was normal by using the parametric analysis. The results indicate that there are significant and positive correlations among knowledge, quality, benefit, marketing and customer’s acceptance towards a new product. The implementation of integration model is based on client proposal that wants the special features to be included in the plan. Special features are khairat, loss and effort to work and hospital bill insert but with worth value to pay by the client on the monthly basis that included in the monthly installment. The new product in premium life table will give a better perception mortgage takaful business because the plans offer affordable price with the extra benefit to be attached with the plan hereafter and accepted by all categories of income earners. Dissertations, Academic Sila masukkan subject wajib Dissertations, Academic. Terima kasih... Thesis |
| spellingShingle | 2019_The Integration Model of Mortgage Takaful in Islamic Home Financing |
| state | Terengganu |
| subject | Islamic finance Home ownership—Finance Insurance, Islamic Mathematical models Dissertations, Academic |
| summary | Islamic banking is defined as a banking system that is based on the principles of Islamic law (also known as shariah) and guided by Islamic economics. Two basic principles behind Islamic banking are the sharing of profit and loss and, significantly, the prohibition of the collection and payment of interest. By looking at the importance of shariah guideline and consumers needs in Islamic home financing, it is important to use the variable that affect the consumer acceptance on a new product hence, the aim of this study is to identify whether there are correlations among knowledge, quality, benefit, marketing towards customers acceptance on a new product. The study investigated the current Islamic Home Financing in Malaysia to identify their strengths and weaknesses as for references to the new model. A mathematical derivation of integration model, named as Barakah model. The model is gaining from an existing formula and improvised it into an acceptable installment that offers a win-win situation for both parties within shariah guidelines. Then, another mathematical formulation of integrated Barakah model with takaful coverage. As for the public acceptance of the Barakah model, the study conducted a survey by distributing 301 sets of questionnaires and performed inferential statistical analysis to see the correlation among the 5 variables in determining the acceptance level of the model. Furthermore, the validation of the model is distributed to selected Islamic Financial Institution (IFI) expertise in Malaysia. The findings from the mathematical model showed that by using the Barakah model, the monthly payment is lower than the existing installment offered by IFI that aligned with shariah guidance. The allowable profit taken for the calculation is less than 1/3 from its principal. Barakah model with the minimum premium contribution of RM30, that includes special features are khairat, loss and effort to work and hospital bill insert but with worth value to pay by the client on the monthly basis that included in the monthly installment. By using Statistical Package for the Social Sciences (SPSS), The p-value = 0.392 (p > 0.05) on the one-sample Kolmogrov-Smirnov test statistics output shows that the data collected violate the assumption of normality distribution. Due to the violation of normality distribution, Pallant had suggested using parametric technique analysis. The data showed was normal by using the parametric analysis. The results indicate that there are significant and positive correlations among knowledge, quality, benefit, marketing and customer’s acceptance towards a new product. The implementation of integration model is based on client proposal that wants the special features to be included in the plan. Special features are khairat, loss and effort to work and hospital bill insert but with worth value to pay by the client on the monthly basis that included in the monthly installment. The new product in premium life table will give a better perception mortgage takaful business because the plans offer affordable price with the extra benefit to be attached with the plan hereafter and accepted by all categories of income earners. |
| title | 2019_The Integration Model of Mortgage Takaful in Islamic Home Financing |
| title_full | 2019_The Integration Model of Mortgage Takaful in Islamic Home Financing |
| title_fullStr | 2019_The Integration Model of Mortgage Takaful in Islamic Home Financing |
| title_full_unstemmed | 2019_The Integration Model of Mortgage Takaful in Islamic Home Financing |
| title_short | 2019_The Integration Model of Mortgage Takaful in Islamic Home Financing |
| title_sort | 2019_the integration model of mortgage takaful in islamic home financing |