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DETERMINANTS OF TAKAFUL DEMAND EVIDENCE FROM PAKISTAN

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30 Pages : 312-327

http://dx.doi.org/10.31703/grr.2022(VII-II).30      10.31703/grr.2022(VII-II).30      Published : Jun 2022

Determinants of Takaful Demand: Evidence from Pakistan

Abstract

    Pakistan's Takaful (Islamic insurance) is growing. Despite the fact that the Takaful business is still expanding, it is expected to rise 20% to 25% in the next 10 years, reaching USD$ 13.5 billion in 2019. This study examines Takaful demand and Pakistani economic conditions. The study targets Pakistani Takaful enterprises from 2009-2020. The study sample includes 5 Takaful companies: 3 generals and 2 families. The dependent variable (Takaful demand) is obtained from Takaful companies' annual reports, whereas the independent variables (macroeconomic factors) are from the global bank database. Stata software is used to examine the data for autocorrelation, multicollinearity, and panel quantile regression. The result of the study ravelled that the selected macroeconomic factors have significant and positively connected with the Takaful demand.

    Takaful Demand, Economic Determinants, Pakistan

    (1) Fareeda Ashraf
    Academic Officer, Mechanical Engineering Department School of Engineering, University of Management and Technology, Lahore, Punjab, Pakistan.
    (2) Muhammad Mahmood Shah Khan
    Assistant Professor, Banking and Finance Department, Hasan Murad School of Management University of Management and Technology, Lahore, Punjab, Pakistan.
    (3) Zohaib Naeem Babar
    Lecturer, Government Associate College Kamalia, Toba Tek Singh, Punjab, Pakistan.
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Cite this article

APA

CHICAGO

    CHICAGO : Ashraf, Fareeda, Muhammad Mahmood Shah Khan, and Zohaib Naeem Babar. 2022. "Determinants of Takaful Demand: Evidence from Pakistan." Global Regional Review, VII (II): 312-327 doi: 10.31703/grr.2022(VII-II).30

HARVARD

    HARVARD : ASHRAF, F., KHAN, M. M. S. & BABAR, Z. N. 2022. Determinants of Takaful Demand: Evidence from Pakistan. Global Regional Review, VII, 312-327.

MHRA

    MHRA : Ashraf, Fareeda, Muhammad Mahmood Shah Khan, and Zohaib Naeem Babar. 2022. "Determinants of Takaful Demand: Evidence from Pakistan." Global Regional Review, VII: 312-327

MLA

    MLA : Ashraf, Fareeda, Muhammad Mahmood Shah Khan, and Zohaib Naeem Babar. "Determinants of Takaful Demand: Evidence from Pakistan." Global Regional Review, VII.II (2022): 312-327 Print.

OXFORD

    OXFORD : Ashraf, Fareeda, Khan, Muhammad Mahmood Shah, and Babar, Zohaib Naeem (2022), "Determinants of Takaful Demand: Evidence from Pakistan", Global Regional Review, VII (II), 312-327

TURABIAN

    TURABIAN : Ashraf, Fareeda, Muhammad Mahmood Shah Khan, and Zohaib Naeem Babar. "Determinants of Takaful Demand: Evidence from Pakistan." Global Regional Review VII, no. II (2022): 312-327. https://doi.org/10.31703/grr.2022(VII-II).30