The influence of microtakaful products on halal small business sustainability

Wan Ahmad, Wan Mohd Naziman and Jaiyeoba, Haruna Babatunde and Abdullah, Moha Asri (2022) The influence of microtakaful products on halal small business sustainability. Journal of Halal Industry & Services, 5 (1). pp. 1-17. E-ISSN 2637-0891

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Abstract

Due to their size, halal small businesses normally face catastrophes in their operations with insufficient protection and knowledge of risk management. While microtakaful has opened a new paradigm of micro protection for halal small businesses, the extent to which microtakaful products have contributed to the sustainability of halal small businesses is yet to be explored. Hence, this study explores a range of microtakaful products that can contribute to the sustainability of halal small businesses. To achieve this objective, a survey questionnaire was designed and used to collect data from 238 halal small business owners and managers in Klang Valley, Malaysia. Using multiple regression, the results show a positive and significant influence of disability and family microtakaful products on halal small business sustainability. Whereas property and health microtakaful products were found to be insignificantly related to the sustainability of halal small businesses. Thus, this study recommends that disability and family microtakaful products are the basic forms of risk management tools that are crucial for the sustainability of halal small businesses in Malaysia.

Item Type:	Article (Journal)
Uncontrolled Keywords:	Microtakaful; Halal small businesses; Sustainability; Risk management; Malaysia
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) Kulliyyah of Economics and Management Sciences
Depositing User:	Dr. Haruna Babatunde Jaiyeoba
Date Deposited:	05 Jan 2023 08:22
Last Modified:	05 Jan 2023 08:22
URI:	http://irep.iium.edu.my/id/eprint/102933

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