THE NEED TO INTEGRATE ZAKAT AND WAKAF IN THE DEVELOPMENT OF MICRO TAKAFUL MODEL

Micro Takaful is an affordable alternative protection policy for those who cannot afford a high-end level policy. However, many in the low-income group do not own personal or family because they monthly premium rates. Zakat and wakaf could become source of funds developing micro takaful. This qualitative study intends to explain need integrate zakat order develop Data were collected through semi-structured interviews involving three institutions, namely Syarikat Malaysia Keluarga Berhad, Muftis Office Federal Territories Islamic Religious Council Selangor Council. Findings show that there are two major pressing needs integrating wakaf, which provide huge risk savings fund support insufficient wakaf.