TY  - JOUR
T1  - Innovative Process to Resolve Takaful Disputes in Malaysia
AU - binti Mohamad, Nurun Nadia AU - Abdul Rahman, Muhammad Ikhbal bin AU - Hassan, Rusni binti AU - Yusoff, Adnan 
JO  - The Social Sciences
VL  - 13
IS  - 1
SP  - 45
EP  - 52
PY  - 2018
DA  - 2001/08/19
SN  - 1818-5800
DO  - sscience.2018.45.52
UR  - https://makhillpublications.co/view-article.php?doi=sscience.2018.45.52
KW  - Islamic finance industry
KW  -takaful
KW  -dispute resolution
KW  -Malaysia
KW  -mechanisms
KW  -safeguarding
AB  - Strengthening redress mechanisms for consumers are one of the main focuses of Bank Negara Malaysia. Effective and fair handling of disputes faced by consumers are important to ensure the stability of market conduct as well as the consumer empowerment. Related to this, disputes resolution mechanisms are one of the key points in safeguarding and protecting the consumers of Islamic banking and takaful industry. According to Financial Mediation Bureau Annual Report of 2015, the number of cases related to takaful matters registered are increased compared to number of cases registered in 2014. Thus, the percentage of cases being resolved through mediation by the Financial Mediation Bureau is also increased. For the purpose of research, this study propose to determine that mediation is being the most effective process in resolving takaful disputes at present time. This is because it allows innovativeness in three main aspects, i.e., through its existing legal framework, its process as well as people involved in it.
ER  -