Does microtakaful improve the financial status of women small-entrepreneurs? An insight from Malaysian B40 women’s entrepreneurship

What is it about?

This study explores the role of Microtakaful, a form of Islamic microinsurance, in improving the financial situation of women entrepreneurs in Malaysia's B40 income group, who often face financial hardship due to limited resources and a lack of risk management knowledge. Using semi-structured interviews with B40 women entrepreneurs, the research identifies how Microtakaful can help alleviate these financial challenges. The findings suggest that customized Microtakaful products, specifically designed for the unique needs of these women, could be key to enhancing their financial stability. This research highlights the importance of developing inclusive financial products that empower economically disadvantaged women and foster greater financial inclusion. The study provides valuable insights for financial institutions and policymakers to create more effective solutions that can help strengthen the financial resilience of women entrepreneurs, thereby supporting their contributions to Malaysia's economy.

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Photo by Ali Arif Soydaş on Unsplash

Photo by Ali Arif Soydaş on Unsplash