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Do Microtakaful Schemes as Risk Management Tools Contribute to Halal Small Business Sustainability? Evidence from Malaysia

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 managemen...

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Main Authors: Jaiyeoba, Haruna Babatunde, Moha Asri, Abdullah, Wan Mohd Naziman, Wan Ahmad, Fernando, Yudi
Format: Article
Language:English
Published: IIUM Press 2022
Subjects:
HF Commerce
HF5601 Accounting
HG Finance
Online Access:http://umpir.ump.edu.my/id/eprint/36717/1/Do%20Microtakaful%20Schemes.pdf
http://umpir.ump.edu.my/id/eprint/36717/
https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/695
https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/695
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spelling my.ump.umpir.367172023-01-31T08:30:39Z http://umpir.ump.edu.my/id/eprint/36717/ Do Microtakaful Schemes as Risk Management Tools Contribute to Halal Small Business Sustainability? Evidence from Malaysia Jaiyeoba, Haruna Babatunde Moha Asri, Abdullah Wan Mohd Naziman, Wan Ahmad Fernando, Yudi HF Commerce HF5601 Accounting HG Finance 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. IIUM Press 2022-12-31 Article PeerReviewed pdf en http://umpir.ump.edu.my/id/eprint/36717/1/Do%20Microtakaful%20Schemes.pdf Jaiyeoba, Haruna Babatunde and Moha Asri, Abdullah and Wan Mohd Naziman, Wan Ahmad 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 2289-2117 https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/695 https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/695
institution Universiti Malaysia Pahang
building UMP Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Pahang
content_source UMP Institutional Repository
url_provider http://umpir.ump.edu.my/
language English
topic HF Commerce
HF5601 Accounting
HG Finance
spellingShingle HF Commerce
HF5601 Accounting
HG Finance
Jaiyeoba, Haruna Babatunde
Moha Asri, Abdullah
Wan Mohd Naziman, Wan Ahmad
Fernando, Yudi
Do Microtakaful Schemes as Risk Management Tools Contribute to Halal Small Business Sustainability? Evidence from Malaysia
description 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.
format Article
author Jaiyeoba, Haruna Babatunde
Moha Asri, Abdullah
Wan Mohd Naziman, Wan Ahmad
Fernando, Yudi
author_facet Jaiyeoba, Haruna Babatunde
Moha Asri, Abdullah
Wan Mohd Naziman, Wan Ahmad
Fernando, Yudi
author_sort Jaiyeoba, Haruna Babatunde
title Do Microtakaful Schemes as Risk Management Tools Contribute to Halal Small Business Sustainability? Evidence from Malaysia
title_short Do Microtakaful Schemes as Risk Management Tools Contribute to Halal Small Business Sustainability? Evidence from Malaysia
title_full Do Microtakaful Schemes as Risk Management Tools Contribute to Halal Small Business Sustainability? Evidence from Malaysia
title_fullStr Do Microtakaful Schemes as Risk Management Tools Contribute to Halal Small Business Sustainability? Evidence from Malaysia
title_full_unstemmed Do Microtakaful Schemes as Risk Management Tools Contribute to Halal Small Business Sustainability? Evidence from Malaysia
title_sort do microtakaful schemes as risk management tools contribute to halal small business sustainability? evidence from malaysia
publisher IIUM Press
publishDate 2022
url http://umpir.ump.edu.my/id/eprint/36717/1/Do%20Microtakaful%20Schemes.pdf
http://umpir.ump.edu.my/id/eprint/36717/
https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/695
https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/695
_version_ 1756684414013669376
score 13.211869

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