P093 Waqf Bank Discussion Series: Thematic Analysis of Waqf Takaful Product Development in Malaysia

Abstract

The combination of Waqf institutions and takaful institutions is expected to catalyse the risk management industry. Apart from that, these combinations can also address Malaysia's medical expenditure problem. This study aims to serve as a bridge between takaful and waqf institutions to develop a waqf takaful product.   This qualitative study involves 20 respondents, comprising shariah experts, bank executives, takaful executives, and relevant industry experts. The data collection methods used in this study are semi-structured interviews and a focus group interview. The researcher has sent invitations for research interview sessions to all waqf organizations, available Islamic banking institutions, microfinance institutions in Malaysia, and Muslim scholars for data collection. The findings of this paper show that waqf takaful has the potential to be developed in Malaysia and to reduce the financial burden faced by the B40 group