Dallas, TX -- (SBWIRE) -- 03/31/2014 -- Sandlerresearch.org offers Takaful Market in Malaysia 2014-2018 a market research report in its store. One of the major trends in the market is the increasing geographic expansion of Takaful providers in Malaysia. The increasing importance of Islamic banking also brings along opportunities for Takaful insurers. Geographically, Malaysia is one of the fastest growing Southeast Asian countries with a GDP growth of approximately 5 percent per annum in recent years. This has attracted Takaful agencies to promote and sell their products in this country. Bank partnerships, which present a new and readily available distribution channel, open up new opportunities for Takaful operators to write Sharia-compliant bancassurance products.
According to the report, one of the major drivers in this market is the rapid growth of the Malaysian economy. The country has a large Muslim population that is inclined to purchase products, which comply with Sharia principles. In fact, the non-Muslim population is also showing an inclination toward such products. The rapid growth of the Malaysian economy in turn increases the per capita disposable income of the population, which enables people to purchase Takaful insurance products.
The Takaful Market in Malaysia 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Takaful Market in Malaysia market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Further, the report states that one of the main challenges in this market is the lack of awareness of Islamic banking and its principles among people. Since Takaful is a relatively new concept, many Islamic and non-Islamic segments of the country are not aware of Takaful products and their benefits.
The report recognizes the following companies as the key players in Takaful Market in Malaysia: HSBC Amanah Takaful (Malaysia) Sdn. Bhd., Malayan Banking Berhad, Syarikat Takaful Malaysia Berhad, Sun Life Financial Inc., AIA AFG Takaful Bhd., AmFamily Takaful Berhad and Great Eastern Takaful Sdn Bhd.
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Key questions answered in this report:
- What will the market size be in 2018 and what will be the growth rate?
- What are key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by key vendors?
- What are the strengths and weaknesses of each of these key vendors?