Exploring intention of college students to subscribe takaful or insurance scheme in Selangor / Nurul Afiqah Nor Rizal

Takaful is a form of Islamic insurance in which members donate money to a pool system in order to protect each other from loss or injury. It is founded on Sharia, or Islamic religious law, which describes how individuals are responsible for cooperating and protecting one another. Takaful policies address health, life, and general insurance requirements. Nowadays, the majority of Muslims feel that conventional insurance is prohibited to them in terms of its legality (uncertainty) due to the presence of several prohibitions, such as Riba (usury), Maysir (betting), and Gharar. As a result, there is a need for alternative protection that fits the needs and desires of Muslims engaged in Islamic Shari'ah-compliant financial transactions. In that case, this study is conducted to investigate the college students' understanding and knowledge of takaful. It is also done to assess students' level of awareness as well as to discover their intention to subscribe between Islamic insurance and conventional insurance in the future. This study is based on the results from the data collected through surveys that have been distributed to random college students in Selangor. Moreover, the results also collected by an interview and previous researches. The questions arise about this issue is what is the level of understanding of college students in Selangor about insurance or takaful, can college students in Selangor differentiate between takaful and conventional insurance and do college students in Selangor intend to subscribe takaful or conventional insurance scheme in the future. Following the successful collection of data and information, the data will be evaluated and determined.