Importance of financial literacy and awareness in microtakaful: implications for industry stakeholders

• Main Authors: Md Ariffin, Kartina, Kassim, Salina, Redzuan, Nur Harena, Zakariyah, Habeebullah
• Format: Proceeding Paper
• Language: English; English
• Published: 2024
• Subjects: HG3368 Islamic Banking and Finance; HG8719 Islamic Insurance Takaful
• Online Access: http://irep.iium.edu.my/112261/1/ICONIE2024_12%20Financial%20literacy%20and%20awarenesss%20in%20microtakaful.pdf; http://irep.iium.edu.my/112261/2/ICONIE2024_12%20Financial%20literacy%20and%20awarenesss%20in%20microtakaful.pdf; http://irep.iium.edu.my/112261/; https://ircief.kuis.edu.my/the-3rd-iconie-2024-e-proceeding/

A take-up rate of microtakaful products depends very much on the awareness, knowledge and understanding of the targeted customer segment. Malaysian microtakaful programmes target the Bottom 40% (B40) of society with literacy and awareness. Due of the poor penetration rate of microtakaful goods despi...