ROLE OF SAVING BASED TAKAFUL PRODUCTS IN INCREASING HIGHER EDUCATION ENROLMENT IN PAKISTAN
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Keywords

Takaful
BancaTakaful

How to Cite

Muhammad Imran, M. (2012). ROLE OF SAVING BASED TAKAFUL PRODUCTS IN INCREASING HIGHER EDUCATION ENROLMENT IN PAKISTAN. Journal of Social Sciences and Humanities, 51(2), 47–64. Retrieved from https://www.jsshuok.com/oj/index.php/jssh/article/view/209

Abstract

Pakistan is world’s sixth most populous country with a population of more than 179.5 million (census, 2012) and it is indeed a well-known fact that enrolment rate in higher education is approximately 5% which is very low as compare to the developed countries and this has not even at par when we compare it with the India, Srilanka, Bangladesh. Analyzing a few reasons gets us to a conclusion that there are some unfortunate circumstances where people do
compromise on their child’s education. And the ultimate result is the decline of educational status of the country. And thus the future remains gloomy. Securing child’s educational future is surely every parent’s first n foremost duty and responsibility. Every child of this nation deserves a big start which obviously helps him/her further in achieving major successes of his/her lifetime. After analyzing current circumstances of our country, the rise of inflation is highly recognized due to several reasons and with the passage of time, in this
competitive society the significance of education has greatly amplified. Parents sometimes have to compromise on their child’s interests, welfare and future because of lack of funds to pay for their education. It is a harsh reality that people still do dream about fulfilling their child’s every need with expenses rising day by the day.

This study has analyses and records feedback from various people on educational future of their children. The ultimate conclusion of the study is that Saving Based Takaful products can help in providing children with a better and secure educational future. The views of the respondents clearly state the vitality of an investment plan which can be designed to provide adequate money for key educational milestones in a child’s life. With the help of this study, the researchers have tried to emphasize on the fact that if people plan for their children’s’ education considering Shariah rules and principles, the overall enrolment rate of higher education can potentially increase.

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Copyright (c) 2012 Muhammad Imran

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