A SYNTHESIS OF LITERATURE ON MICRO-TAKAFUL STUDY: EXPLORING PROTECTION FOR UNDERPRIVILEGED COMMUNITY
DOI:
https://doi.org/10.53840/ijiefer137Keywords:
Synthesis Literature Review, Micro-Takaful, B40 PopulationAbstract
Micro-takaful plays a vital role in safeguarding the Malaysia's B40 population who are economically vulnerable. The B40 segment in Malaysia constitutes the lowest 40% of income earners and faced a multitude of financial challenges and limited access to Islamic insurance options. Many studies have been conducted on the importance of micro-takaful in cushioning the financial security the B40 community. This paper examines the existing literature related to micro-takaful in the Scopus database. From the thorough screening process, we identified 14 documents that are related to micro-takaful and B40. Through the combination of insights gathered from a diverse range of research, this synthesis review seeks to offer an overview of the status of micro-takaful in Malaysia. This paper identifies, consolidates and presents the challenges, gaps, and opportunities that influence the integration of micro-takaful into the B40's financial framework. The findings will provide a guidance in identifying knowledge gaps and viable research areas for future researchers, industry players and policy makers toward strengthening the future implementation of micro-takaful for B40 community.
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