Abd Wahab, Norazlina and Isa, Mohamad Yazid and Mohd Yusof, Rosylin and Wan Ahmad Lotfi, Wan Ahmad Najib (2024) Protecting the Well-Being of Households: Delineating A Social Takāful Fund Initiative for Positive Social Impact. International Journal of Islamic Finance and Sustainable Development, 16 (4). pp. 117-135. ISSN 30306442
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Abstract
This study aims to examine the social takaful fund (STF) initiative, developed by Islamic Business School–Universiti Utara Malaysia (IBS–UUM) in collaboration with FWD Takaful Berhad in Malaysia, as a measure to address economic uncertainties and vulnerabilities by enhancing household well-being. It also analyses the potential impact of the STF on marginalised communities. Design/Methodology/Approach — This study employs a case study method to generate an in-depth understanding of the STF. A semi-structured in-depth interview was conducted with the manager of the STF, and the responses were transcribed and examined based on content and thematic analysis. Findings — The STF initiative is being applied for the benefit of the community in the state of Kedah in Malaysia before it can be extended to all other states in the country. It fosters inclusivity and resilience by pooling resources to provide a safety net for disadvantaged households. The model promotes collective responsibility and has the potential to enhance societal well-being and sustainable development. Utilising the fund for four main programmes (notably, community outreach, educational empowerment, the takaful lab, and takaful subsidy programmes), this initiative addresses economic uncertainties and vulnerabilities especially among the unserved and underserved communities through income improvement, empowering financial knowledge and takaful protection
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Micro-takāful, Social impact, Social takāful, Sustainable development, Well-being |
| Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management |
| Divisions: | Islamic Business School |
| Depositing User: | Mr. Izhar Hj. Hashim |
| Date Deposited: | 08 Oct 2025 10:27 |
| Last Modified: | 08 Oct 2025 10:27 |
| URI: | https://repo.uum.edu.my/id/eprint/32481 |
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