According to the World Bank’s June 2021 Malaysia Economic Monitor report, the recent resurgence of the COVID-19 infections has impacted households, firms and the country’s overall economic recovery. To safeguard the people’s wellbeing, the World Bank proposed some pertinent reforms to address the rising risks, including deepening the social protection system and improving the coordination of targeted approaches and delivery of social protection programs.

These proposed reforms are consonant with the Value-based Intermediation for Takaful (VBIT) Framework launched by the Malaysian Takaful Association (MTA) on the 23rd June 2021.