Publication: The Integration of Micro Takaful and Temporary Waqf for the Underserved Population In Malaysia?
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Date
2022
Journal Title
Journal ISSN
Volume Title
Publisher
Penerbit USIM
Abstract
Micro takaful has become a critical strategy to mitigate risks and overcome poverty among low-income populations in a community. However, micro takaful's low penetration rate seems worrying due to the recommendation to minimise its management costs. This paper aims to develop a financing model/framework by integrating micro takaful and temporary waqf to benefit the underserved population in Malaysia. This research uses the content analysis method from relevant literature to derive a suitable financing framework based on temporary waqf applications. As a result, this study suggests an integrated micro takaful and temporary waqf financing framework to solve the existing problems. It is hoped that this work will benefit the development of micro takaful financing strategies and boost its offerings in the future.
Description
E-Proceeding SAIS 2022 Seminar Antarabangsa Islam dan Sains 2022 : “Memimpin Integrasi Ilmu Naqli dan Aqli” /Editor: Noorfajri Ismail (Head) , Latifah Abdul Latiff , Zalika Adam, Syamila Mansor, Dzulkhairi Mohd Rani, Ahmad Fadly Nurullah Rasedee, Azman Ab Rahman, Nur Aina Abdulah, Manal Jusoh, Syed Najihuddin Syed Hassan
1 December 2022 \ Venue: Fakulti Perubatan dan Sains Kesihatan, USIM
Organized by Persatuan Kakitangan Akademik Universiti Sains Islam Malaysia (PKAUSIM), Faculty of Syariah and Law, USIM and the Institute of Fatwa and Halal (iFFAH)
Keywords
Micro takaful, temporary waqf, underserved population, framework, B40