TAKAFUL-GROWTH NEXUS BEFORE AND AFTER THE IMPLEMENTATION OF IFSA 2013: EMPIRICAL EVIDENCE FROM MALAYSIA

The expanding Takaful industry, together with the remarkable economic development has drawn attention to explore impact of on growth, especially in Malaysia as it been retaining its position leader Islamic finance well maintaining be top for Global Economy Indicator (GIEI) Score 9th consecutive years. Although many challenges have faced by successfully, there are still some issues that need improved terms legal, supervisory, and institutional framework, directions future research focusing statistical analysis significance, primary objective serve society. Hence, this paper examines association between Malaysian sector real growth pre post-IFSA 2013 period 2007 – 2019. This study employs both quantitative qualitative analysis, which Pearson Correlation Coefficient is adopted while an interview session 5 experts employed analysis. findings show positively linked significantly pre-IFSA but insignificantly 2013, supporting supply-leading hypothesis. Meanwhile, suggest IFSA does assist improve via rules regulation, industry contributed own humble quota creating jobs society adding value participants businesses.