Abstract:
Insurance is an important to promote economic growth and stability in a country.
Insurance is obtained to have compensation for disaster or risk or danger conformed
by an individual or in the name property insured. This research entitled on "A
comparative on insurance in selected Islamic and conventional financial institutions in
Sri Lanka". The selected institutions are Amana Takaful PLC, Ceylinco Insurance
PLC and Sri Lanka Insurance PLC.
The prime objective of the research study is to identify the contribution of Islamic and
Conventional insurance institutions and also understand the both insurance system.
The research based on the hypothesis as Islamic insurance has potential for stable
growth and success under the Islamic shariah.
To carry out a research the primary and secondary data collection methods are
adopted. So the data are collected from questionnaires and interview as primary
source of information. For secondary source of information records and annual reports
are obtained from Insurance company in Sri Lanka.
This research conclude that the above mentioned hypothesis has recognized the
growth of Islamic insurance is according to shariah.
Finally the identified and analyzed facts and figures are studied and recommendations
are given for future planning and studies
