School Takaful Waqf Smartwatch

Protecting the safety of children is paramount, especially during their school hours and commutes. However, awareness regarding child protection through Islamic financial practices like takaful and waqf remains limited. This paper proposes the development of an integrated School Takaful Smartwatch with real-time location monitoring and a value-added Waqf platform. In this regard, the Waqf platform will be featured on the School Takaful Smartwatch subscriber’s Mobile Application as an additional value to facilitate donations to fund the underprivileged school children (B40 students) for the School Takaful Smartwatch Policy. The assistance to the B40 students will be implemented using a takaful waqf-based approach, departing from the traditional takaful model with waqf principles that contribute to a charitable endowment fund. This product aims to bridge the gap between child safety, technological advancements, and the underutilized potential of waqf. Data gathered from interviews with parents, takaful agents, and schoolteachers from diverse communities ensure that the product is designed to meet the specific needs and explore perceptions of its users. Representing a novel approach to child safety, financial security, and charitable giving in Malaysia, this solution has the potential to revolutionize school children’s safety, promote financial inclusion, and contribute significantly to the takaful landscape. Collaboration with the parent-teacher association will ensure active involvement in school safety initiatives and keep parents informed about the positive impact of waqf contributions, ensuring the device becomes an integral and valued tool in promoting the safety and well-being of their children.