| Popis: |
Purpose: Recently, ethics have become an essential marketing tool. Both conventional and Islamic financial institutions have claimed to have operates on ethical ground. In the wave of overlapping between these institutions, Islamic insurance has adopted “ethics†as its major marketing strategy or slogan in order to penetrate into the Muslims and non-Muslims insurance markets. Methodology: Using Islamic principles to present ethics in its business relegates Islamic law to ethics only. Thus, this study evaluates the existence of ethics in Islamic insurance. Whether such an ethical practice convincing enough to capture targeted markets? Findings: Results showed that the acclaimed ethics is religious value based ethics that would not be easily acceptable to the non-Muslims markets and consumers. In fact, the ethics were more superficial than its effects by usage of the funds. Recommendations: It was recommended that effective rating (pricing) system is an alternative way to penetrate into the non-Muslims’ markets and an efficient method of establishing ethical charging which is fundamental to Qur’anic contractual agreements. |
