"Islamic Finance Researches" (IFR)
Challenges of implementing micro-takaful in the country and providing solutions for implementing micro-takaful in Iran
Document Type : Science - Research (Islamic Economic Instruments Economic Analysis)
Authors
1 PhD in Economics, Faculty of Economics, University of Tehran
2 دانشیار گروه اقتصاد اسلامی دانشگاه قم
Abstract
Introduction
The aim of this study was to develop and deepen Takaful in Iran and examine the challenge of implementing micro-Takaful products in the country, which, despite the high level of risk and the frequency of exposure to its risks in the country, requires attention to this sector.
Research Method
In this study, micro-Takaful products and their characteristics in different countries were examined using an exploratory approach. Then, after identifying products in other countries, in order to assess the feasibility of implementing these products in Iran using Sharia and Islamic rules, the desired information was collected through interviews with experts and then, using statistical tests, the research objectives were examined based on the results of the SWOT study.
Findings
The results of this study indicated that one of the biggest challenges is the lack of public awareness about the concept and functioning of Takaful. Another challenge that needs to be addressed is the lack of an appropriate legal and regulatory framework to support the Takaful industry. Among the existing opportunities, increasing attention to Islamic finance concepts and the willingness of the community to use financial services in accordance with Sharia principles can help grow this industry.
Conclusion
Based on the results obtained, governments should create appropriate legal and regulatory frameworks to support micro-takaful. This includes facilitating the registration process of companies and providing financial incentives for the development of this industry. Also, the use of new technologies such as mobile banking and online platforms can help facilitate access to micro-takaful services. These technologies can simplify the process of registration, payment of premiums and receipt of claims.
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Main Subjects