Redzal Mohamad (2007) Labuan international offshore financial centre- the viability of Takaful and Retakaful as a niche. Masters thesis, Universiti Malaysia Sabah.
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Abstract
With support from the Malaysian government, Labuan has been transformed into a dynamic financial offshore center since 1990, offering a broad range of the offshore products, both conventional and Islamic, corporate services such as the incorporation of companies, trust and company secretarial services. In relation to takaful and retakaful business, Labuan IOFC serve as a platform for operators to venture into potential market. The future success of takaful and retakaful in Labuan depends on the combined collaborative effort of all stakeholders i.e. regulator, scholars, industry and market participation. This research explains the findings of a study in determining the viability of takaful and retakaful as a niche for Labuan IOFC. Survey has been conducted in the form of e-questionnaire sent via e-mail to the whole population of insurance and insurance-related entities in Labuan. A total of 79 questionnaires have been sent out to the principal officers for the overall affair of companies. 68% or 54 respondents have participated to the survey conducted. This research used descriptive statistics, using mean, standard deviation as well as frequency counts for the data collected. The result from the survey indicated that offshore insurance and insurance-related entities have a clear notion about takaful and retakaful principle and practices. However, they agreed that although there were lack of expertise and professional in the Islamic area, they are willing to train their officers on the knowledge of takaful and retakaful. The finding also indicated that takaful and retakaful is a viable niche for Labuan IOFC. With regards to the competitiveness, Labuan however does not have competitive advantages over Bahrain and London, currently the leading Islamic financial center in the world. The strength of Labuan IOFC relies on political stability, low tax regime as well as reliable legal system. However, Labuan IOFC has rated low in terms of its geographical location
| Item Type: | Thesis (Masters) |
|---|---|
| Keyword: | Labuan IOFC, Takaful and Retakaful, Islamic finance, Offshore financial services |
| Subjects: | H Social Sciences > HC Economic history and conditions > HC10-1085 Economic history and conditions > HC94-1085 By region or country |
| Department: | SCHOOL > School of Business and Economics |
| Depositing User: | DG MASNIAH AHMAD - |
| Date Deposited: | 17 Jun 2025 11:22 |
| Last Modified: | 17 Jun 2025 11:22 |
| URI: | https://eprints.ums.edu.my/id/eprint/44131 |
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