Takaful Vs Insurans

Some of us might be interested to know what is the differences between Takaful and Insurance.

Below is the simplified diagram to show the differences. The main difference is the impact on the economic circular flow. As seen below, the Takaful model promotes a continuous flow of income wheareas Insurance model is preventive. 

During my study at Universiti Malaya, I have chosen to answer question no 4 which is the differences between Takaful and Insurance. Main motive was to share this knowledge with everyone and of course for my personal interest.

We were given only 2 days to complete the essay. Although it may not be a highly critical and sophisticated numerical research, I hope it could provide a rough idea on the differences between these two contracts for those who are keen.

The below link is the essay which I have wrote:

Comparison Essay Takaful vs Insurance

We are required to write the essay in Bahasa Melayu. Hence for those who are interested to know more about this product in English, kindly refer to my main source Takaful Report 2011 Ernst & Young as below:

Takaful Report 2011 Ernst & Young

I am currently using MAA Takaful. At the moment, they are the best as there is no co-insurance fees to be paid. All hospitalisation charges are paid as charged while the other insurance contracts apply the co-insurance of 10% of the total medical bills. This can be vouched through my personal experience when I have to do endoscopy. I am not required to pay a single cent. Normal Insurance policy such as Great Eastern, Prudential, etc. will have cost me RM500 = 10%.

Takaful is indeed the best.

A Tribute to a Super Strong Lady

She is Hana Farina Awal. Born 18th February. The 2nd child of a lovely couple of Mr Awal and Miss Khadijah. She is loud, outspoken at times, very credible as a vice president and also sweetly charming. Most importantly, she is one of our classmate and she is flying to US very soon.

I would say Hana & Hafiz deserve the best applaud from us. They both going through the road not to be taken. Pretty much difficult and challenging. It's not the kind of path that we all have to go through. Nevertheless, they made it finally. Even better, they got into the same university, University of Iowa

She's flying on this Sunday 2nd January of 2011. May you have a safe journey and we all love you. A new journey awaits you. It may be difficult as well, but we all know you will breeze through it. InsyAllah

thank you

thank you so much you all :)
and yes, all the best to all of you as well.
and yes, SALAM MAAL HIJRAH

Hi Guys!

.:: Happy Deepavali To Everyone ::.

Hi guys!

I'm sure everyone has heard the news of me being stranded in Malaysia for one happy year! :)

Yerp thats true! I'm currently working at DiGi Headquarters under Finance Department. I'm the youngest in the team tho! haha :)

Honestly speaking, working under Finance Department is not as fun as working under Marketing Department because people don't really need creative thinking as much as working under Marketing. All that we do is routine work where we have to go by the rules.

Hence, I have been thinking a lot. Although I will be graduating as an Actuary, but I don't think so I will pursue working as an actuary. Well maybe and maybe not. Thing is, I am more interested in jobs which has prevalent interaction engagement with people in real life.

I am currently considering Tourism sector, Language and Film industry. I still love working on numbers and money, but that will keep me in the limbo of loneliness throughout my whole entire life. So if I suddenly appear on your telly, don't be surprised!! HAHAHA :)

mr economist

may you have a great celebration with your beloved ones!

and may Allah make it easy for you on everything :)

Mega Project!

Mega Project ?

Who has anything to say about it?

Me? I Like it! Personally speaking, I like it! This will mean a better train system soon!

But obviously only in the Klang Valley. So those people from outside Selangor-KL area, your time will come soon. haha.

The Bright Investment Opportunities for Malaysian Scholars Staying Overseas

Those students who are studying abroad will somehow have surpluses from their monthly allowances given that proper cautions have been taken in controlling their monthly expenditure.

Extensive research has been carried out and these two investment opportunities are found to be the best for Malaysian Scholars who are studying abroad.

1) Amanah Saham Bumiputra

2) Gold Investment Account by Public Bank (http://www.pbebank.com/en/en_content/personal/investments/gold.html)

Reason(s):

1. Additional units (ASB & Gold) can be purchased remotely using online banking facilities.

2. Malaysia is among the only country to introduce Gold Passbook Account. (Maybank & Public Bank)

UK refuses to introduce this due to them having to pay higher insurance cover to protect the golds and this type of account will cost them more due to the needs of an enhanced security control and greater administrative work.

Your bright future awaits! Don't waste this opportunity. ASB's dividend is currently the highest amongst all PNB shares.

Our Children, Our Priority :)

Have fun investing fellow friends! :)

Abu Bakr ibn Abi Maryam reported that he heard the Messenger of Allah, may Allah bless him and grant him peace, say: "A time is certainly coming over mankind in which there will be nothing [left] which will be of use save a dinar (Gold) and a dirham (Silver)." (The Musnad of Imam Ahmad ibn Hanbal)

The Islamic Dinar is a specific weight of 22k gold equivalent to 4.25 grams.
The Islamic Dirham is a specific weight of pure silver equivalent to 2.975 grams.

Send Money The Cheapest Way

How to get your GBP & USD to Malaysian shores the cheapest way???

There are many options available.

Option 1 (Paper) :

1) Fill up the normal forms at your local bank and then pay the fees. Standard UK banks £10.

I don't know about US. Apologies to Hana and Hafiz. :( Well the both of you can edit this post if u know it :)

2) Your bank will then use THEIR current exchange rates. Most of

the time, its expensive.

Option 2 ( Electronically):

1) Cheapest way is PayPal!

2) Transaction is almost FREE*. Just use the 'Send Money' option. PayPal will use almost the same exchange rate which other banks are offering b

ut in this case, we could save £9 = RM 45 = 45 ASB units

3) For those who have had an existing PayPal account in which you have linked with your UK Bank Account, you would need to register a new PayPal account using another email with your Malaysian Bank Account details.

4) When the Ringgits have been deposited into your Malaysian PayPal account, withdraw them to your Malaysian bank e.g. (Maybank, CIMB, Public Bank etc etc) which has online banking facility.

5) Use this deposited amount which will be cleared in 2 working days to purchase additional ASB units online. :)

*Transaction fees of RM 3.00 (=£0.60) applies for withdrawals under RM 400 (= £80) from your Paypal to Malaysian Bank Account.

*No transaction fees for withdrawal above RM 400 (= £80) from your Paypal to Malaysian Bank. Account.

WZ lawakkk!!!

hahhaa oklah Wz..

WAAA wz, bile kene tu? selalunya orang buat prank tu untuk mengorat jee...

ada peminat yee.. waa.. story mory la! :P

Hands up!

Put your hand up if you ever been prank like this :

"Eh, kat bahu ko ade kelemumur laaaaa"

then you wil straight away look at your shoulder. suddenly, you realised that you was just got punked!!!! hahahahaha

time nak balas dendam lak,

"eh, tudung ko...(macam nak cakap tudung aku x perfect kan waktu tu..)"

but I didn't fall on it. hahahaha

gambar hanyalah hiasan semata2.hahahahha