Publication: The State Of Takaful Al-Ijtimai’ During Covid-19 In Malaysia:A Review
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Date
2020-10-15
Journal Title
Journal ISSN
Volume Title
Publisher
Universiti Sains Islam Malaysia
Abstract
Risk is present in every aspect of human life. Labelled as a black swan event and equated to the economic scene of World War Two, the deadly infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), called coronavirus disease 2019 (COVID-19), signifies a grave risk to public health. As far as the COVID-19 is concerned, people striving to spread risk from one party to another, seeking assistance which is not limited to the financial aspect. In the case of the COVID-19 pandemic relief mission, the concept and practices of takaful al-ijtimai’ is more applicable as it’s meaning and scopes are broader; covers both financial and non-financial assistance and not limited under the purview of the country’s laws. Using secondary data, this study aims to explore the concept and scopes of social security or takaful al-ijtimai’ from an Islamic point of view and present the current state of the art in the implementation of takaful al-ijtimai’ during the COVID19 pandemic in Malaysia. It is hoped that the review would be useful for understanding and promoting the concept of takaful al-ijtimai’ as one important tool to achieve sustainable development goals.
Description
3 rd INTERNATIONAL SEMINAR ON ISLAM AND SCIENCE 2020 (SAIS 2020)
COVID-19: IMPLICATION, IMPACT AND SOLUTION
Date: 15 October 2020
Organized by: Persatuan Kakitangan Akademik USIM (PKAUSIM)
In Collaboration with: International Halal and Fatwa Centre (iFFAH) &
Fakulti Syariah dan Undang-Undang (FSU)
Keywords
Islamic finance, takaful al-ijtimai, COVID-19, risk.