Determination of micro takaful ownership among the lower-income group in Bandar Baru Bangi / Muhammad Izhar Tofek

When we discuss the current issue of takaful. The development of takaful institutions is widespread and the majority of the population is aware of the existence of takaful that provides protection from any aspects of property and finance, as well as safety and health. These aspects are the main pillars of human life. The takaful system has also expanded overseas where it has shown that the Shariah-based protection system is safer and more secure. However, the low-income group of the poor cannot afford the takaful coverage. This is due to the financial constraints that befall the community especially in the face of Covid-19 which continues to attack the population thus causing the country's economic downturn. Job centres and businesses are receding and some are rolling over. This also affects those who make a business through roadside that only gets uncertain returns. Therefore, government initiatives through Bank Negara Malaysia (BNM) have established micro takaful under family takaful. However, micro takaful does not operate extensively and this has created problems in terms of awareness, understanding, needs and ability of the community to have micro takaful specifically for the low-income group. Therefore, this study aims to analyze the understanding and awareness of the residents in Bandar Baru Bangi, Selangor regarding micro takaful and identify their acceptance of micro takaful. Next, the methodology method used which is qualitative and quantitative method can help to analyze the data collected, the results of the formula can be done to form a general conclusion related to the study in the findings. The implications for the study can be done when the study is produced and form the best formula to ensure that the understanding and awareness of the population for micro takaful increases and continues to grow everywhere especially in Bandar Baru Bangi, Selangor.