Utilisation of zakāh and waqf fund in micro-takāful models in Malaysia: an exploratory study

Submitted by Anonymous (not verified) on Thu, 08/22/2019 - 16:08
Year
2017
Country
Malaysia
Language
English
Abstract

Purpose: This paper aims to investigate the utilisation of both zakāh and waqf fund as external resources to ensure micro-takāful services are delivered to underserved communities in an effective and sustainable manner. It also addresses Sharīʿah issues related to the zakāh- and waqf-based model. Design/methodology/approach: The study is a qualitative-based research. It uses both focus group and content analysis approach to gather primary data and identify and interpret relevant secondary data and Sharīʿah concepts in developing the zakāh- and waqf-based micro-takāful model. Findings: It is discovered throughout the investigation of attributes of beneficiaries of zakāh and waqf institutions as well as micro-takāful scheme that all share commonalities in terms of social securities and socio-economic support to low-income households in societies. The study also finds that the disintegration of zakāh and waqf which form part of the Islamic ecosystem from the micro-takāful model makes it less effective and sustainable. Originality/value: This study appears as a primitive attempt to discuss and develop a zakāh and waqf-based micro-takāful model with reference to Malaysian jurisdiction. © 2017, Said Adekunle Mikail, Muhammad Ali Jinnah Ahmad and Salami Saheed Adekunle.

English
ISSN/ISBN
1281976
No. of Pages
100-105
Number
1
Volume
9
Select type of work
CIS Program Old
CIS publications
No
CIS Thesis
No