SHS Web Conf.
Volume 36, 2017The 2016 4th International Conference on Governance and Accountability (2016 ICGA)
|Number of page(s)||13|
|Published online||24 July 2017|
Takaful Operators’ Corporate Social Performance (CSP): An Industry Perspective
Faculty of Business Management, Universiti Teknologi MARA
Corresponding author’s e-mail: firstname.lastname@example.org
Takaful operators which are part of Islamic financial institutions (IFIs) derive their fundamental principles from shariah. These religious based institutions are expected to fulfill the two important roles in their business operations: commercially profitable and socially responsible. Nevertheless, their societal role is rarely measured and discussed. Therefore, this study appraised the societal role of takaful operators by assessing the components which have been proposed under the corporate social performance (CSP) theme for IFIs. This study has arranged structured interview sessions with the Chief Investment Officers and Heads of Investment of each of the eleven takaful operators in Malaysia. The Delphi-style technique was adopted when developing the interview questions. The questions were developed in the form of a five-point Likert scale, addressing specific issues on CSP of takaful operators. In addition, information on takaful operators’ CSR activities, zakat and tax payment were gathered from the companies’ websites and annual report of takaful operators. The study concludes that takaful operators in Malaysia have achieved their societal role through two channels: CSP programmes financed from companies’ profits and fulfillment of CSP as a result of business-community agenda. This study covers every takaful operator in Malaysia and the results reflect industry opinion.
Key words: Takaful operator / Takaful / corporate social performance / Islamic insurance / Islamic financial institution
© The Authors, published by EDP Sciences, 2017
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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