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Source publication
The waqf-takaful concept involves channeling death compensation benefits from deceased takaful participants to selected religious institutions, thereby generating perpetual and sustainable waqf contributions. Despite recent challenges such as inconsistent implementation standards and management issues, some takaful operators in Malaysia have starte...
Context in source publication
Context 1
... dual impact makes the waqf-takaful model a powerful tool for achieving socio-economic development and fulfilling religious obligations, offering a sustainable and holistic approach to financial protection and social welfare. The modus operandi of waqf-takaful death compensation is illustrated in Figure 1. Generating Income: This component focuses on creating financial returns through various means. ...
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