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Takaful Protection for Mental Health Illness From the Perspective of Maqasid Shariah

Author

Listed:
  • Khairil Faizal Khairi
  • Mohamad Subini Abdul Samat
  • Nur Hidayah Laili
  • Hisham Sabri
  • Mohd Yazis Ali Basah
  • Asmaddy Haris
  • Azrul Azlan Iskandar Mirza

Abstract

Mental health illness becomes one of the major illnesses in Malaysia aside from heart disease. It was recently reported that 29.2% of Malaysians are suffering from mental health illness which increases threefold from the previous year. Majority of the Malaysians suffering from mental health illness comes from the lowest income group. This shows that the lowest income group has less opportunity to seek treatment due to the cost. Even though other countries have started to offer mental health insurance such as the United States of America, United Kingdom, Australia and recently Singapore, Malaysia is still way behind in offering coverage for mental health illness. Therefore, the objective of this paper is to study the mental health takaful from the perspective of Maqasid shariah. The results from this study show that mental health takaful is able to meet the requirement of Maqasid shariah and preserve the benefits of, and prevent harm to human wellbeing. Furthermore, this study will provide an insight to the takaful industry for developing new products that could help mental health disorder patients.

Suggested Citation

  • Khairil Faizal Khairi & Mohamad Subini Abdul Samat & Nur Hidayah Laili & Hisham Sabri & Mohd Yazis Ali Basah & Asmaddy Haris & Azrul Azlan Iskandar Mirza, 2020. "Takaful Protection for Mental Health Illness From the Perspective of Maqasid Shariah," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(3), pages 168-175, June.
    • Handle: RePEc:jfr:ijfr11:v:11:y:2020:i:3:p:168-175
    DOI: 10.5430/ijfr.v11n3p168
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    References listed on IDEAS

    as
    1. Nadhirah Nordin & Mahadi Mohammad & Azlin Alisa Ahmad & Mohamad Sabri Haron & Normadiah Daud, 2017. "Commodity Futures: A Maqasid Al-Shariah Based Analysis," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 7(8), pages 602-614, August.
    2. Nooraslinda Abdul Aris & Roszana Tapsir & Mohammad Kamil bin Abu Talib, 2012. "Risk And Risk Management Of Takaful Industry," Journal of Global Business and Economics, Global Research Agency, vol. 4(1), pages 29-39, January.
    3. Abdul Aziz, Ahmad Faizal & Mohamad, Shaifulfazlee, 2013. "Fulfillment of Maqasid al-Shariah via Takaful," MPRA Paper 47776, University Library of Munich, Germany.
    4. Sheila Nu Nu Htay & Nur Shazwani Sadzali & Hanudin Amin, 2015. "An analysis of the viability of micro healthtakafulin Malaysia," Qualitative Research in Financial Markets, Emerald Group Publishing Limited, vol. 7(1), pages 37-71, February.
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