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23 - FNB - Finance and Banking


FNB 420 - The Development of Takaful (Islamic Insurance)

Code Start Date Duration Venue Fees
FNB 420 29 September 2019 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 27 October 2019 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 24 November 2019 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 29 December 2019 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 26 January 2020 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 23 February 2020 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 22 March 2020 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 19 April 2020 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 17 May 2020 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 14 June 2020 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 12 July 2020 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 09 August 2020 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 06 September 2020 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 04 October 2020 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 29 November 2020 5 Days Istanbul $ 2950 Registration Form Link
FNB 420 27 December 2020 5 Days Istanbul $ 2950 Registration Form Link
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Course Description

This course aims to teach the concept, principles and importance of Takaful, as well as the various models of Takaful and its unique structure. It covers all the fundamental aspects of Takaful operations, including underwriting, pricing, surplus, capital and solvency management. It highlights governance, regulation, policy and legal aspects, and risk management issues in Takaful. It also provides discussions on the importance of fintech in the industry and provides country experiences for sharing skills, best practices and expertise. 

Course Objectives

  • Describing the models of Takaful, its distinguished features, and underlying contracts
  • Understanding the concept, principles and importance of Takaful
  • Analysing the global Takaful market and trends
  • Discussing the operations of Takaful and Retakaful
  • Identifying the legal and regulatory parameters of Takaful
  • Discussing the role of fintech in Takaful
  • Providing country experiences on Takaful 

Who Should Attend?

  • Insurance / Takaful Professionals
  • Takaful and Insurance Brokers / Agents
  • Takaful and Insurance operations personnel / sales managers
  • Product managers
  • Shariah auditors 
  • Shariah compliance officers
  • Risk specialists
  • Regulators

Course Details/Schedule

Day 1

  • Insurance and Risk Management
  • Concept of Insurance
  • Why conventional insurance is not accepted by Shariah
  • Introduction to Takaful Markets – Global Trends
  • Definition of Takaful
  • Historical Development of Takaful
  • Concepts, Principles and Importance of Takaful
  • Conventional Insurance vs. Takaful

Day 2

  • Underlying Contracts in Takaful
  • Models of Takaful
  • Underwriting, Pricing, Surplus, Capital and Solvency Management in Takaful
  • Asset-Liability Matching, Taxation, and Zakat in Takaful

Day 3

  • Governance, Capital Management and Risk Management in Takaful
  • General Takaful
  • Family and Health Takaful
  • Investment of Takaful Funds
  • Fintech in Takaful – Disruptive Innovations Affecting the Industry

Day 4

  • Retakaful
  • Regulation and Supervision of Takaful
  • Policy and Legal Aspects of Takaful Development
  • Role of Sukuk and Capital Markets in Supporting Takaful

Day 5

  • Review of AAOIFI and IFSB standards for Takaful
  • Country Experiences 
  • Talent Development in Takaful
  • Issues, Opportunities, and Challenges in Takaful