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A preliminary analysis on the impact of flood and the awareness of the flood victims towards Takaful protection: A study of eastcoast Malaysia's flood victims


Che Mohd Salleh, Marhanum and Kassim, Salina and Mustapha Kamil, Bidayatul Akmal and Razali, Siti Salwani and Che Embi, Nor Azizan (2017) A preliminary analysis on the impact of flood and the awareness of the flood victims towards Takaful protection: A study of eastcoast Malaysia's flood victims. Journal of Islamic, Social, Economics and Development (JISED), 2 (6). pp. 29-45. ISSN 0128-1755

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Abstract

In Malaysia, there has been frequent large-scale flooding in the recent years that resulted in damage in property and giving impact on the livelihood of the people, particularly in the east-coast regions of the country.The objective of this study is twofold.First, it aims to investigate the impact of the flood on the socio-economic livelihoods of the victims, and second, to explore the awareness among the flood victims towards a Takaful protection to enable them to better cope with the flood risks. In terms of methodology, survey method has been adopted to 147 respondents who were affected by the flood in the flood-prone areas in the states of Kelantan and Pahang.Based on simple descriptive analysis, it is found that flood had affected the victims financially especially on their sources of income. In terms of awareness towards Takaful schemes, majority of the victims are aware of Takaful, yet about 30 percent of them are uncertain about the existence of Takaful schemes that may reduce their financial losses when the flood hit. Furthermore, the victims also have limited knowledge on the amount of Takaful contribution that they have to pay for flood coverage (41 percent) and they are uncertain on their capability to pay the monthly Takaful contribution in future (44 percent). The findings of this study provide important inputs on the possibility of establishing an affordable micro-takaful meant for future financial protection as a safety net especially for the lower income and most vulnerable flood victims in the country.

Item Type: Article
Uncontrolled Keywords: flood, micro-takaful, awareness, Islamic finance, Malaysia
Subjects: H Social Sciences > HC Economic History and Conditions
Divisions: School of Business Management
Depositing User: Mrs. Norazmilah Yaakub
Date Deposited: 15 Mar 2018 01:32
Last Modified: 15 Mar 2018 01:32
URI: http://repo.uum.edu.my/id/eprint/23611

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