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Harnessing Sustainable National Food Security Through Integrated Agro-Takaful Framework in Malaysia

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dc.contributor.authorSyahnaz Sulaimanen_US
dc.date.accessioned2024-05-30T07:06:29Z
dc.date.available2024-05-30T07:06:29Z
dc.date.issued2023
dc.description10th INTERNATIONAL ISLAMIC ECONOMIC SYSTEM CONFERENCE 2023 (I-iECONS 2023) : “Sustainable Development through Innovative Economic Transformation” /Editors : Amalina Mursidi, Agoos Munalis Tahir, Suhaida Herni Suffarruddin, Norfhadzilawati Rahim, Murad Ali Ahmad Al-Zaqeba, Muhammad Iqmal Hisham Kamaruddin Conference Dates: August 14 2023 | Conference Location: Millennium Makkah Al Naseem Hotel Mecca Saudi Arabia Organized by Faculty of Economics and Muamalaten_US
dc.description.abstractAgriculture is a crucial economic sector to generate income and supply food resources for a country. The agriculture sector contributes 7.1 per cent(RM101.5 billion) to Malaysia Gross Domestic Product (GDP) and provides 10.5 per cent(1,566.0 thousand) jobs in 2021. However, the agro-food agriculture sector is exposed to many risks due to disasters caused by climate change, diseases, and pest attacks. It is estimated that the loss suffered by the agro-food sector is around RM90.6 million due to the flood incidents that hit several states in recent years. This condition is quite concerning because it leads to the destruction of livestock and crops, which will have an impact on farmers' income. In the long run, this may have an impact on the assurance of national food security as well as the occurrence of poverty. Until now, there hasn't been a national takaful programme that safeguards the rice agro-food sector as the primary source of food supply in Malaysia. The takaful scheme is believed to have the potential to provide social security guarantees in the form of income protection for rice farmers and further ensure the national food supply. This study employs document analysis of article journals, internet sources and policy documents to understand the current state of Malaysia’s takaful business in addressing agriculture risks. It is also important to explore the understanding of the rice farmers in Malaysia on the agriculture takaful. The novelty of this study is to explore the potential of introducing a blended financing mechanism of Islamic social finance (ISF) on the existing takaful business structure to establish a viable agriculture takaful framework based on the principle of ta’awun (cooperation) that can secure farmers' income more sustainably as well as preserve the national food security.en_US
dc.identifier.citationSulaiman, S. . (2023). Harnessing Sustainable National Food Security Through Integrated Agro-Takaful Framework in Malaysia. I-IECONS E-Proceedings, 10(1), 936–939. https://doi.org/10.33102/iiecons.v10i1.114en_US
dc.identifier.doi10.33102/iiecons.v10i1.114
dc.identifier.epage939
dc.identifier.issn2805-4741
dc.identifier.spage936
dc.identifier.urihttps://epiiecons.usim.edu.my/index.php/eproceeding/article/view/114
dc.identifier.urihttps://oarep.usim.edu.my/handle/123456789/17125
dc.language.isoen_USen_US
dc.publisherFakulti Ekonomi dan Muamalat, Universiti Sains Islam Malaysiaen_US
dc.relation.conference10th International Islamic Economic System Conference 2023 (I-iECONS 2023)en_US
dc.subjectAgriculture Takaful, Islamic Finance, Islamic Social Finance,Food Securityen_US
dc.titleHarnessing Sustainable National Food Security Through Integrated Agro-Takaful Framework in Malaysiaen_US
dc.typeArticleen_US
dspace.entity.typePublication

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