Can Turkey Implement Malaysian Takaful Know-How into Turkish Market?: A Qualitative Inquiry

The concept of takaful has been introduced after long-continued discussions made by the Islamic scholars. Even though practices have around forty years history globally, operations are a comparatively new and underdeveloped sector in Turkish insurance market. Given its dominant Muslim population, well-developed financial system, fact that contributions grown exponentially which is supported current statistics, Turkey great potential prospering Thus, should develop further policies to own operators. In achieving so, Malaysia, considered be one most advanced ecosystems world, regarded as an example for comparison probe into evaluate opinions Malaysian professionals towards development system Turkey. this paper, phenomenological perspective used, assuming phenomenon. This phenomenon was investigated examining experiences five business four Shariah scholars through semi-structured interviews. With technique, it also aimed obtain some valuable suggestions industry. It found firstly regulatory governance then take gradual steps regulate addition, increasing awareness, developing qualified human capital, adapting technology marketing, standardising market will help