AN ASSESSMENT OF CURRENT POLICIES AND GUIDELINES FOR TAKAFUL AGENT WELL-BEING IN MALAYSIA
DOI:
https://doi.org/10.35631/AIJBES.829068Keywords:
Takaful Agents, Well-being, Regulatory Assessment, Professionalism, SustainabilityAbstract
This paper examines the existing policies and guidelines pertaining to the well-being of the Takaful agents through a systematic literature review and a comparative analysis of five critical policy documents. Findings reveal that while the TOF 2019 provides a financial safety net by requiring agent commissions to be paid from the Shareholders’ Fund, the "loose relationship" between operators and agencies often results in inconsistent Shariah compliance and inadequate support for agent mental health. Furthermore, while mandatory professional development and the MTA Code of Ethics have elevated industry standards, the pressure to meet "fit and proper" criteria remains a significant professional burden. Ultimately, this paper proposes a recommendation for a policy enhancement that integrates psychological resilience with rigorous regulatory oversight. It concludes that a transition toward a human-centric governance model where Takaful operators take direct responsibility for agent well-being and ethical conduct that is essential for the long-term stability and Shariah integrity of the Malaysian Takaful ecosystem.
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