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This study aims to review the current rules and regulations on micro-takaful in Malaysia to determine whether it addresses the basic principles of micro-takaful. Although the features of the first micro-takaful are slightly different from the customary long-established takaful settings, the rules and regulations remain unchanged following the original guidelines of operating insurance and takaful. Until Perlindungan Tenang makes its first premiere, the rules and regulations on micro-takaful are gaining ground. The dissimilarity of micro-takaful from the original takaful calls for updated guidelines, so that any micro-takaful scheme launched in the market meets the demand and needs of the targeted population.

This study uses content analysis as the best method to review each guideline in the related rules and regulations across several documents such as microinsurance and micro-takaful discussion paper and guidelines on family takaful products.

Overall, the findings reveal that guidelines on micro-takaful operating in Malaysia support the micro-takaful requirement to be affordable, valuable, accessible, understandable and simplified. Matching the rules and regulations with this population feedback, the extended distribution channel may need further scrutiny due to deficit trust among public members toward insurance and takaful.

The insights presented are of important illumination to achieve long-term sustainability financial protection while preserving human well-being among those underserved.

The purpose of this paper was to investigate the lubricity of palm biodiesel (PB)–diesel fuel with plastic pyrolysis oil (PPO) and waste cooking biodiesel (WCB).

Three quaternary fuels were prepared by mechanical stirring. B10 (10% PB in diesel) fuel was blended with 5%, 10% and 15% of both PPO and WCB. The results were compared to B30 (30% PB in diesel) and B10. The lubricity of fuel samples was determined using high-frequency reciprocating rig in accordance with ASTM D6079. The tribological behavior of all fuels was assessed by using scanning electron microscopy on worn steel plates to determine wear scar diameter (WSD) and surface morphology. The reported WSD is the average of the major and minor axis of the wear scar.

The addition of PPO and WCB to B10 had improved its lubricity while lowering wear and friction coefficients. Among the quaternary fuels, B40 showed the greatest reduction in coefficient of friction and WSD, with 7.63% and 44.5%, respectively, when compared to B10. When compared to B30a, the quaternary fuel mixes (B40, B30b and B20) exhibited significant reduction in WSD by 49.66%, 42.84% and 40.24%, respectively. Among the quaternary fuels, B40 exhibited the best overall lubricating performance, which was supported by surface morphology analysis. The evaluation of B40 indicated a reduced adhesive wear and tribo-oxidation, as well as a smoother metal surface, as compared to B20 and B30b.

Incorporation of PPO and WCB in PB–diesel blend as a quaternary fuel blend in diesel engines has not been reported. Only a few researchers looked into the impact of PPO and WCB on the lubricity of the fuel.

Participation in micro-family takāful plans amongst low-income earners remains low despite the various initiatives promoted by the Malaysian Government. Therefore, this study aims to conduct an in-depth examination on the indicators of having micro-takaful tafakul in Malaysia.

Questionnaires were distributed to respondents residing in Selangor, the state with the highest recorded percentage of low-income earners in Malaysia. Regression analysis was conducted in this study. Demographic characteristics and knowledge were treated as the independent variables, whereas the tendency of having a micro-family takāful plan was considered the dependent variable.

Gender and knowledge on the benefits of micro-family takāful plans have significant and positive effects on the tendency of having a micro-family takāful plan. Married and employed women are more likely to own a micro-family takāful plan compared with their male counterparts.

This study contributes to the growing literature on the research of micro-takāful determinants in Malaysia.

Industry players and regulators need to tailor the operating and marketing strategies of micro-family takāful plans based on the gender and knowledge of potential participants. The industry may also improve the features of takāful plans to ensure that they are even more attractive and comprehensive.

This study offers a much deeper analysis compared with past research owing to the identified dimensions of a demographic factor that can influence the tendency of having micro-family takāful plans. Besides, this study offers a comprehensive measurement of the knowledge on micro-family takāful plans by considering all aspects (i.e. concept, importance and benefit) of these plans. Moreover, this study examines the influence of each element of knowledge on the tendency of having a micro-family takāful plans, a topic that was rarely studied in the past.

The explosion of technology has revolutionized the teaching and learning process in higher education. Students are using the digital technology to aid their learning process. In this sense, digital divide exists among students in higher education as they come from different socioeconomic backgrounds. Thus, this study aims to examine the digital usage among the students from the low-income families (B40) in higher education institutions.

The data was drawn by using an online survey from the undergraduates (low-income families B40) in Malaysia higher education institutions. In total, 391 responses were collected. The data was analysed using structural equation modelling method.

The results showed that performance expectancy and facilitating conditions have a significant relationship with digital usage. In addition, personal innovativeness has positive significant effect on performance expectancy and effort expectancy.

This study sheds light on the students from the lower income family behaviour while using digital technologies for their learning purpose.

The study further contributes to the new knowledge on students from the low-income family’s behaviour in using digital technology for their learning process.

The purpose of this paper is to look into millennials’ acceptance of Qard al-hasan using the Islamic theory of consumer behaviour (iTCB) in Malaysia.

For this study, convenience sampling was used and 203 usable questionnaires were received from the respondents who are millennials and university students. The questionnaire link was distributed via social media platforms to the millennials.

The findings of this study reveal that there exists a strong and positive relationship between the role of iman and Maqasid consumer index in determining the millennial acceptance of Qard al-hasan. On the contrary, Islamic altruism does not turn out to be the factor of Qard al-hasan acceptance. Resultantly, these results suggest that millennials in Malaysia accept Qard al-hasan and based on those educational institutions may consider offering zero-interest benevolent loans to alleviate the financial burden of unprivileged students.

Although this study provides positive results, a minimum of two research constraints may direct future efforts in this area. This study initially focuses on a specific ecosystem of Islamic financial products in Malaysia, with a particular emphasis on Qard al-hasan. As a result, subsequent research ought to strive to encompass a larger perspective on Qard al-hasan. Secondly, this research uses a theory that is still in the applicability phase, which has led to some productive discussions for further improvements.

To the best of the authors’ knowledge, this work is one of the few studies conducted on an empirical basis using the iTCB in the milieu of Qard al-hasan in Malaysia.

Health is considered as a nucleus to the life of a nation. Absence of it can create disharmony to an individual and society at large. Recent phenomena of COVID-19 pandemic outbreak which has penetrated into the lives of masses has caused major chaos and adverse effect to the health and wellbeing of people globally. No doubt that absence of health may create a magnetic wave to attract abundance of funds for the purpose of mitigating or dealing not only with such pandemic, but for other types of diseases that emerged as well. This is partially because wealth and health have an interrelationship that is hard to separate. This chapter primarily aims to discuss on how Islamic ethical wealth, i.e., waqf has the potential to influence the good health and wellbeing of people. Specifically, this chapter aims to provide a new model of waqf instrument to realize the concept of Islamic ethical wealth. The concept of fairness and justice in Islamic ethical wealth is used in this chapter. Such concept is crucial in distributing wealth and resources for the betterment of health and wellbeing of the masses. This chapter provides solution and suggestion to uphold the primary ethics in wealth through waqf system.

The purpose of this paper is to empirically explore the financial well-being (FWB) of Malaysian households and to construct a subjective FWB index with present and future time perspectives.

Data were collected from 1,867 respondents across five major regions in Malaysia. Adapting the InCharge Financial Distress/Financial Well-being (IFDFW) Scale by Prawitz et al. (2006) and the method of computing an index by Devlin (2009), this study develops an FWB index using subjective measures that include future time perspectives (retirement). The index was employed to measure the FWB across low-, middle- and high-income groups and socio-demographic characteristics.

This study finds evidence that Malaysians' FWB is at an average level (46.8). Middle-income households' FWB (46.1) flanks between the financial well-being index (FWBI) levels of the low-income (37.4) and high-income households (58.7). Across age groups, education levels and employment sectors, the FWB of Malaysians significantly varies, although not across different ethnics, religions, zones and residential areas. Overall, the results suggest that the detrimental effects of FWB are perceived by all Malaysian households nationwide regardless of their religion, ethnicity and residential areas.

The results of this study complement the other well-being indices used by policymakers and may serve as a useful input for government and policymakers for them to formulate appropriate strategies to promote higher FWB of Malaysian households based on their socio-demographic characteristics.

This study used primary data and developed a subjective FWB index that leverages on people's perceptions of their own financial well-being while including present and future time perspectives. The main contribution of this paper is to construct an index that is easily interpretable and that complements the existing FWB indices, and to identify the segments of society that have low vis-à-vis high FWB.

Children in Malaysia, just as children in many other countries, are vulnerable to poverty. They are exposed to different forms of deprivation and the COVID-19 pandemic exacerbated their predicament. Concerns have been raised about the impact of the pandemic on children’s well-being, as this health crisis had intensified the educational and economic disparities among children in Malaysia, and for some children the impact will be lifelong. It is important to recognise the multidimensionality of poverty in regard to deprivation among poor children; however, such concerns are less pronounced in public policy discussions. Demands for greater policy attention intensified following the increasing number of unemployed parents and bereaved children who lost their parents due to the pandemic. The scope of poverty alleviation policies failed to consider the varying poverty gaps between recipients and the various forms of deprivation experienced by children in poor and larger sized households. As a result, the allocation of funds for the improvement of children’s well-being has been insignificant. The aim of this chapter is to provide a thorough overview of child poverty in developed and developing countries and how child poverty has changed in Malaysia. The analysis in this chapter seeks to provide deep insights on the development of policies that address poverty among children in Malaysia. An analysis on budget appropriations reveals that efforts to address other dimensions of child development were steadily improved, but policy commitments for such purposes need to be intensified in the post-pandemic era when hundreds of thousands of families and children have been plunged into poverty. It is timely for policymakers to acknowledge the need for separate policy considerations for children since they experience poverty differently from adults. The fulfilment of their needs should be prioritised, and the recognition of this fact would produce desirable plans of action for children living in poverty.

This paper focusses on how the educated and less-educated middle class react differently to income increases, against an intertwined literature backdrop of Engel's law, quality of life, aspirational and conspicuous consumption. The paper seeks to answer two main questions: Is there evidence of the middle class, particularly the educated, trying to emulate the upper class by shifting towards aspirational consumption? Is there any distinct expenditure behaviour amongst the middle class?

Combining the Malaysian 2016 Household Expenditure Survey (HES) and the 2016 Consumer Price Indices datasets, quantile estimations are applied on the merged dataset of 14,326 households.

There is evidence of the educated middle class emulating the upper class in terms of food share, home furnishing and starchy produce expenditure behaviour. The less-educated middle class exhibits a predilection for home furnishing expenditures when income increases, whilst the educated shows signs of dissociating themselves from such material acquisitions. The paper concludes that the middle class is collectively an aspirational class, but with diverging paths towards upward social mobility between the educated and less-educated households.

Aspirational consumption of the middle class has not been given detailed empirical treatment at the household micro-level in the literature, especially for upper-middle income countries like Malaysia. The paper starts off by detecting an anomaly in the Engel's food share coefficients, where the middle class sees unexpected larger declines in food share than those of the upper class. This is the paper's departure point from the literature.