Exploring Global Takāful Participation: Implications for Nigeria's Financial Inclusion and Economic Sustainability.

Abstract:

This qualitative study is intended to investigate the global landscape of Takāful participation with a specific focus on its potential implications for enhancing financial inclusion and contributing to the economic sustainability of Nigeria. The study employs content analysis techniques to systematically examine scholarly literature, industry reports, and policy documents. It aims to reveal recurring themes, emerging trends, and strategic insights related to Takāful practices worldwide. Findings indicate detailed patterns and trends in Takāful participation globally, emphasizing its potential impact on financial inclusion, particularly for marginalized populations. The study provides practical implications for policymakers, industry stakeholders, and researchers, offering evidence-based insights into integrating Takāful within Nigeria's financial landscape. The identified patterns and trends serve as practical guidance for policymakers aiming to leverage Takāful to address financial inclusion challenges, which contributes to the discourse on fostering economic sustainability in Nigeria through Takāful integration.