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At The Hands Of Fate: The Political Economy Of Islamic Insurance In Indonesia, Malaysia, And Pakistan, C. 1980 To The Present, Muhammad S. Rahman

Graduate Program in International Studies Theses & Dissertations

Why have Islamic insurance systems developed well in some countries, but not in others? Malaysia is considered as Islamic insurance elite due to its relatively large number of operators it houses as well as the sustained growth of Islamic insurance sales within the country, while Indonesia and Pakistan are still in early stages of development. Analyzing the political and social history of Islamization of insurance systems in these three Muslim majority countries in Asia since 1980s, this dissertation demonstrates the development gap between these countries on Islamic insurance results from; firstly, complex bargains made between various groups within each country …