Jaiyeoba, Haruna Babatunde and Abdullah, Moha Asri and Wan Ahmad, Wan Mohd Naziman and Fernando, Yudi (2022) Do microtakaful schemes as risk management tools contribute to Halal small business sustainability? Evidence from Malaysia. Journal of Islamic Finance, 11 (2). pp. 126-137. ISSN 2289-2109 E-ISSN 2289-2117
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Abstract
Microtakaful schemes have become increasingly crucial for risk management among halal small businesses, however, little is known about which of the schemes offered contribute to halal small business sustainability. Hence, this study intends to ascertain whether microtakaful schemes as risk management tools contribute to halal small business sustainability. This research adopts a quantitative research design by way of survey methodology to obtain data from halal small business owners and managers in Klang Valley, Malaysia. Additionally, exploratory factor analysis (EFA), confirmatory factor analysis (CFA), and structural equation modelling (SEM) were used to uncover which of the microtakaful schemes significantly contribute to halal small business sustainability. The results show that disability and family microtakaful schemes are positively and significantly related to halal small business sustainability. Whereas property and health microtakaful schemes are found to be positively, but insignificantly related to halal small business sustainability. Meanwhile, our findings on property and family microtakaful schemes reveal that more awareness and education should be prioritised by microtakaful operators.
| Item Type: | Article (Note) |
|---|---|
| Additional Information: | 9052/102731 |
| Uncontrolled Keywords: | Property microtakaful, Health microtakaful, Disability microtakaful, Family microtakaful, Halal small business, Sustainability |
| Subjects: | H Social Sciences > HF Commerce > HF5475.I74 Halal business, entrepreneur, marketing, management, and administration H Social Sciences > HG Finance > HG8719 Islamic Insurance Takaful |
| Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): | International Institute for Halal Research and Training (INHART) |
| Depositing User: | Dr. Haruna Babatunde Jaiyeoba |
| Date Deposited: | 10 Jan 2023 09:59 |
| Last Modified: | 10 Jan 2023 09:59 |
| URI: | http://irep.iium.edu.my/id/eprint/102731 |
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