The willingness to purchase Takaful among Islamic Banking and Finance students in University Malaysia Kelantan

Takaful is derived from the Arabic verb 'kafala', which means to secure, maintain, help and care for one's needs. Takaful is an Islamic insurance system based on the principles of'ta'awun (mutual help) and 'tabarru' (voluntary contributions). This study was conducted to assess the level of readiness to purchase Takaful products among Islamic Banking and Finance (SAB) at Universiti Malaysia Kelantan. This model was tested using survey data from 100 respondents. This study was conducted using quantitative research approach that is by distributing questionnaires to selected respondents. Samples were selected among students SAB years 1,2,3 and 4 at the Universiti Malaysia Kelantan, the city campus. This study aims to identify the willingness of students to acquire Takaful products using multiple independent variables demographic factor, religion, knowledge and financial position. The results suggest that attitude, subjective norm and amount of information provide the best fit to the data and are of value to be considered as the indispensable factors in determining the Islamic insurance participation. The findings of this study shed some light on the consumers acceptance level of an Islamic insurance. It also provides valuable insights for Takaful operators to manage the Islam insurance services effectively.