Examining the need of flood victims towards a takaful protection in the East-Coast Region in Malaysia

Climate change has intensified the risk of natural disasters all over the world. In Malaysia, there has been frequent large scale flooding in the recent years that resulted in damage in property and giving impact on the livelihood of the people, particularly in the east-coast regions of the country....

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Main Authors:	Che Mohd Salleh, Marhanum, Razali, Siti Salwani, Mustafa Kamil, Bidayatul Akmal
Format:	Conference or Workshop Item
Language:	English
Published:	2017
Subjects:	HG Finance HG8011 Insurance HJ Public Finance HT Communities. Classes. Races
Online Access:	http://irep.iium.edu.my/58186/ http://irep.iium.edu.my/58186/37/58186.pdf

id	iium-58186
recordtype	eprints
spelling	iium-581862017-08-28T01:43:50Z http://irep.iium.edu.my/58186/ Examining the need of flood victims towards a takaful protection in the East-Coast Region in Malaysia Che Mohd Salleh, Marhanum Razali, Siti Salwani Mustafa Kamil, Bidayatul Akmal HG Finance HG8011 Insurance HJ Public Finance HT Communities. Classes. Races Climate change has intensified the risk of natural disasters all over the world. In Malaysia, there has been frequent large scale flooding in the recent years that resulted in damage in property and giving impact on the livelihood of the people, particularly in the east-coast regions of the country. In the absence of adequate social safety-nets, the low income people staying in the flood-prone areas find themselves not able to cope with the damage caused by the recurring floods. The objective of this study is twofold. First, it aims to investigate the impact of the flood on the socio-economic livelihoods of the victims, and second, to explore the awareness among the flood victims towards a Takaful protection to enable them to better cope with the flood risks. In terms of methodology, we adopt a survey method on 537 respondents who were affected by the flood in the flood-prone areas in the states of Kelantan and Pahang. Based on simple descriptive analysis, it is found that flood had affected the victims financially as well as in terms of their source of income. In terms of awareness towards Takaful schemes, majority of the victims are aware of Takaful, yet about 30 percent of them are uncertain about the existence of Takaful schemes that may reduce their financial losses when the flood hit. Furthermore, the victims also have limited knowledge on the amount of Takaful contribution that they have to pay for flood coverage. The findings of this study provide important inputs on the possibility of establishing an affordable micro-takaful meant for future financial protection as a safety net especially for the lower income and most vulnerable flood victims in the country. 2017 Conference or Workshop Item NonPeerReviewed application/pdf en http://irep.iium.edu.my/58186/37/58186.pdf Che Mohd Salleh, Marhanum and Razali, Siti Salwani and Mustafa Kamil, Bidayatul Akmal (2017) Examining the need of flood victims towards a takaful protection in the East-Coast Region in Malaysia. In: 1st International Islamic Social Economics Conference, 22-23 August 2017, Nilai, Negeri Sembilan. (Unpublished)
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG Finance HG8011 Insurance HJ Public Finance HT Communities. Classes. Races
spellingShingle	HG Finance HG8011 Insurance HJ Public Finance HT Communities. Classes. Races Che Mohd Salleh, Marhanum Razali, Siti Salwani Mustafa Kamil, Bidayatul Akmal Examining the need of flood victims towards a takaful protection in the East-Coast Region in Malaysia
description	Climate change has intensified the risk of natural disasters all over the world. In Malaysia, there has been frequent large scale flooding in the recent years that resulted in damage in property and giving impact on the livelihood of the people, particularly in the east-coast regions of the country. In the absence of adequate social safety-nets, the low income people staying in the flood-prone areas find themselves not able to cope with the damage caused by the recurring floods. The objective of this study is twofold. First, it aims to investigate the impact of the flood on the socio-economic livelihoods of the victims, and second, to explore the awareness among the flood victims towards a Takaful protection to enable them to better cope with the flood risks. In terms of methodology, we adopt a survey method on 537 respondents who were affected by the flood in the flood-prone areas in the states of Kelantan and Pahang. Based on simple descriptive analysis, it is found that flood had affected the victims financially as well as in terms of their source of income. In terms of awareness towards Takaful schemes, majority of the victims are aware of Takaful, yet about 30 percent of them are uncertain about the existence of Takaful schemes that may reduce their financial losses when the flood hit. Furthermore, the victims also have limited knowledge on the amount of Takaful contribution that they have to pay for flood coverage. The findings of this study provide important inputs on the possibility of establishing an affordable micro-takaful meant for future financial protection as a safety net especially for the lower income and most vulnerable flood victims in the country.
format	Conference or Workshop Item
author	Che Mohd Salleh, Marhanum Razali, Siti Salwani Mustafa Kamil, Bidayatul Akmal
author_facet	Che Mohd Salleh, Marhanum Razali, Siti Salwani Mustafa Kamil, Bidayatul Akmal
author_sort	Che Mohd Salleh, Marhanum
title	Examining the need of flood victims towards a takaful protection in the East-Coast Region in Malaysia
title_short	Examining the need of flood victims towards a takaful protection in the East-Coast Region in Malaysia
title_full	Examining the need of flood victims towards a takaful protection in the East-Coast Region in Malaysia
title_fullStr	Examining the need of flood victims towards a takaful protection in the East-Coast Region in Malaysia
title_full_unstemmed	Examining the need of flood victims towards a takaful protection in the East-Coast Region in Malaysia
title_sort	examining the need of flood victims towards a takaful protection in the east-coast region in malaysia
publishDate	2017
url	http://irep.iium.edu.my/58186/ http://irep.iium.edu.my/58186/37/58186.pdf
first_indexed	2023-09-18T21:22:15Z
last_indexed	2023-09-18T21:22:15Z
_version_	1777411959850795008

Examining the need of flood victims towards a takaful protection in the East-Coast Region in Malaysia

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