Developing A Social Security Micro-Takaful Model for Gig Economy Workforce
- Mohsin Ali , Taylor’s Business School, Taylor’s University, Subang Jaya, Malaysia, School of Business, Monash University Malaysia, Subang Jaya, Malaysia
- Hafezali Iqbal Hussain , Taylor’s Business School, Taylor’s University, Subang Jaya, Malaysia
- Qasim Ali Nisar , Taylor’s Business School, Taylor’s University, Subang Jaya, Malaysia
- Chang Yenwen , Taylor’s Business School, Taylor’s University, Subang Jaya, Malaysia
- Baharom Abdul Hamid , nternational Centre for Education in Islamic Finance, Kuala Lumpur, Malaysia
- Ziyaad Mahomed , International Centre for Education in Islamic Finance, Kuala Lumpur, Malaysia
Keywords:
Gig workers; Protection; Takaful Model; Malaysia.
Abstract
The gig economy is a relatively new trend that has not yet been researched or documented significantly. The term "gig economy" refers to labor markets that offer contract-based, temporary, on-demand work and focus primarily on completing specific tasks. This research attempts to conduct a literature review on the risks that gig workers experience and the variables contributing to their lack of protection. In addition, the paper presents an idea for a model of takaful that would apply to gig workers. In addition, the study details the policy implications for the various stakeholders.