1.3. Summary Contents of the Study

The study contains eight chapters, the overview of which are presented in th

e Table 1

below:

ABLE

1: C

ONTENTS OF

TUDY

CHAPTER 1:

Introduction

This chapter, briefly, introduces the subject matter of the study, the objective of the

research, and explains the methodology used.

CHAPTER 2:

Conceptual

Framework of

Takaful

This chapter defines

Takaful

, discusses its importance for economic development

from a theoretical perspective, and provides an overview of

Takaful

needs in OIC

member countries.

CHAPTER 3:

Takaful

Business

Models

This chapter explains the various

Takaful

business models and provides a

comprehensive and detailed analysis on types of

Takaful

structures by focusing on the

establishment, management and contribution payments along with the

Shari'ah

guidelines primarily in the OIC member countries as well as non-OIC countries. It

analyses each type of the contractual relationships in

Takaful

by considering the

Takaful

standards and general practices.

CHAPTER 4:

The

Takaful

Global Landscape

This chapter provides a brief analysis of the needs and trends of the

Takaful

industry

at global, regional and country levels. It also analyses the legal structure, setting-up

and working mechanisms of

Takaful

structures in the market.

CHAPTER 5:

Issues, Challenges

and Future of the

Takaful

Industry

This chapter illustrates the structural, regulatory and technical issues and challenges,

that are facing the

Takaful

market, on standardisation, taxation, competitiveness and

bankruptcy.

CHAPTER 6:

Country Case

Studies and

Survey Analysis

In this chapter, four countries, including one non-OIC country, are selected as case

studies. Besides the analysis of the relevant primary data, the chapter also provides

high-level reports on field-visits to three OIC countries. In addition to the official

institutions of the selected countries, other stakeholders, utilising the

Takaful

financing mechanism, such as private banks, investment banks, investment

companies, international development institutions were also visited to understand

the working mechanism of

Takaful

financing as well as the challenges and issues in

the market. Selected countries are analysed in detail by focusing on

Takaful

through

Islamic finance in the light of the findings of the previous chapters considering the

legal and regulatory framework as well as current trends, sizes, challenges and issues.

CHAPTER 7:

Policy

Recommendations

This chapter draws up general policy recommendations on the

Takaful

sector

in the

OIC countries within the context of the deficit, financing mechanisms, modes and

instruments, the status of legal and regulatory frameworks. Policy recommendations

are designed in the form of a roadmap which the OIC member countries could benefit

from in their efforts toward developing and promoting Islamic finance through the

improvement of the

Takaful

sector. It explains the rationale behind each policy

recommendation, in order to pave the way for the implementation of the best

management practices in the OIC member countries, and transfer knowledge and

share experiences for the development of the

Takaful

sector.

CHAPTER 8:

Conclusion

This chapter summarises the study and provides a brief conclusion.

References and the Appendix are placed at the end of this study.