Diponegoro Law Review
Vol 1, No 1 (2016): Diponegoro Law Review October 2016

IMPORTANCE OF ISLAMIC FINANCIAL SERVICES ACT 2013 IN TAKAFUL INDUSTRY AFTER THE REPELLED TAKAFUL ACT 1984

Siti Norshila Jamil (Faculty of Law, National University of Malaysia)
Jasri Jamal (Faculty of Law, National University of Malaysia)

Article Info

Publish Date
07 Oct 2016

Abstract

The new Malaysian Islamic Financial Services Act 2013 (Act 759) (‘IFSA 2013’) came into force on the 30th June 2013. Its main objectives are to promote financial stability and compliance to Shariah and further strengthen the regulation of Islamic financial institutions. By this, the IFSA 2013 aims to strengthen consumer protection and further increase the confidence of the public in Takaful. At the same time, it remains to be seen if the IFSA 2013 will also encourage Takaful Operators to take their social and religious responsibility more into consideration, which is fundamental behind the concept of Takaful.  Keywords: Takaful, Islamic Financial Services Act 2013

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Journal Info
Diponegoro Law Review
Website

Abbrev

dlr

Publisher

Universitas Diponegoro

Subject

Law, Crime, Criminology & Criminal Justice

Description

Diponegoro Law Review (Diponegoro Law Rev. - DILREV) is a peer-reviewed journal published by Faculty of Law, Diponegoro University. DILREV published two times a year in April and October. This journal provides immediate open access to its content on the principle that making research freely ...