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The Waqf-Takaful Compensation Operational Framework (WTCOF) Towards Strong Takaful Institutions Governance

Table 3: Model of Waqf-Takaful Compensation Governance (WTCG)

Matters Description Items Sign Previous Study
Documentation Matters Consists documentation process of the Waqf-Takaful Compensation Scheme provided by Etiqa Family Takaful Berhad, Zurich Takaful Malaysia Berhad, Takaful Malaysia Keluarga Berhad and Takaful Ikhlas Family Berhad 15 DCM Muhamat et al. (2017), Afif Muhamat et al. (2019) (2018) and Ahmad et al. (2022)
Operational Matters Consists operational process of the Waqf -Takaful Compensation Scheme distribution and standard procedure (SOP) implemented by Etiqa Family Takaful Berhad, Zurich Takaful Malaysia Berhad, Takaful Malaysia Keluarga Berhad and Takaful Ikhlas Family Berhad 9 OPM
Governance Matter Describe the mechanism or systems used by which the companies to control and operates the Waqf-Takaful Compensation Scheme by Etiqa Family Takaful Berhad, Zurich Takaful Malaysia Berhad, Takaful Malaysia Keluarga Berhad and Takaful Ikhlas Family Berhad 6 GCM
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