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This study aims to assess the availability of micro-takāful (micro-Islamic insurance) schemes for the protection of houses belonging to low-income groups in Malaysia.

The study is conducted via desk research and interview discussions with representatives from takāful operators and key stakeholders.

Findings of the study confirm the importance of micro-takāful as a scheme for the protection of low-income groups. Micro-takāful schemes in Malaysia are, however, skewed towards the protection of health, life and family. The study finds little industry interest in the provision of micro-takāful schemes for the protection of houses for low-income groups. This represents another important area that takāful operators should take into consideration in their planning.

The paper will help the Majlis Agama Islam Negeri-Negeri (MAINs), the regulator, takāful operators and government agencies such as Jabatan Wakaf, Zakat dan Haji (JAWHAR) to generate awareness and promote the offering of micro-takāful schemes for the protection of houses belonging to low-income groups in Malaysia.

In light of the limited availability of micro-takāful schemes for the protection of houses for low-income groups, this study argues that takāful operators should offer and promote them.

The study is significant for fulfilling the need of low-income groups in Malaysia to protect their houses in the event of catastrophes so that they will not suffer significant losses. Rather, micro-takāful will assist them in improving their standard of living.

This study promotes the idea that it is essential to facilitate the low-income groups with appropriate coverage made available to them; micro-takāful schemes in protecting their houses and home contents, should any defined calamities occur. The outcomes are necessary for further development of micro-takāful models, specifically for the protection of properties. The developed model shall be proposed for application in the Malaysian takāful and housing industry to facilitate low-income groups to obtain protection for their household and home contents.

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.

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.

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.

This study appears as a primitive attempt to discuss and develop a zakāh and waqf-based micro-takāful model with reference to Malaysian jurisdiction.

The purpose of this paper is to propose a model that will demonstrate how the integration of Salam (exclusive agricultural commodity trade) with Takaful (micro-Takaful – a subdivision of Islamic insurance) and value chain can address major challenges facing the agricultural sector in Kano State, Nigeria.

The study conducted a thorough and critical analysis of relevant literature and existing models of financing agriculture in Nigeria to come up with the proposed model.

The findings indicate that measures undertaken to address the major challenges fail. In view of this, this study proposed Bay-Salam with Takaful and value chain model to solve a number of challenges such as poor access to financing, poor marketing and pricing, delay, collateral requirement and risk issues in order to avail farmers with easy access to finance and provide effective security to financial institutions.

The paper is limited to using secondary data. Therefore, empirical investigation can be carried out to strengthen the validation of the model.

The study outcome seeks to improve the productivity of the farmers through enhancing their access to finance. This will increase their level of production and provide more employment opportunities. In addition, it will boost financial inclusion, income generation, poverty alleviation, standard of living, food security and overall economic growth and development.

The novelty of this study lies in the integration of classical Bay-Salam with Takaful and value chain and create a unique model structure which the researchers do not come across in any research that presented it in Nigeria.