Developing A Social Security Micro-Takaful Model for Gig Economy Workforce

Authors

  • 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.

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Published

2023-06-25

Issue

Vol. 46 No. 130 (2023): January - April 2023

Section

Articles