Customer Awareness on Supply Chain Product of Takaful: A Case Study of Thailand

Supply Chain Coordination commonly accepted view is that a cooperative supply chain leads to higher product performance and sustainability. It also has changed in the customers' taste and demand for different and quality services. Since the establishment of more takaful product and financial institutions in past few years, Takaful providers have been offering a range of supply chain Takaful products to Muslims In Thailand, Takaful (Islamic insurance) has been introduced for almost 11 years to (Muslim) customers (Yeo, 2007). The concept behind conventional insurances contrary to the principles of Islam and socio-ethical perspective. Takaful industry remains to be relevant even after three decades of its introduction due to the continuous demands from the multiracial and multi-ethnic participants from various backgrounds. However, one factor that hinders further development of Takaful industry in Thailand is the lack of awareness of its presence and purpose in market. Therefore, this paper was designed to examine the knowledge and customer awareness of Takaful products among Thais Muslims by collecting primary data through survey questionnaires. Out of the 300 questionnaires that were sent to Muslims in selected region in Thailand, Patani, Yala and Narathiwat. We received 293 questionnaires. Random selection was used to select the sample from the known population. The findings show that out of the 293 respondents, 230 have no knowledge of Takaful and 78.5% are not aware that Takaful policy holders share risks mutually. Also, 33.2 %, 38.8% and 37.2% do not know that Takaful is free from gambling, uncertainty, and interest.70.2% respondents, however, think that Takaful products comply with Shari'ah.