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32 - ISL- Islamic Banking and Finance
ISL 120 - The Development of Takaful (Islamic Insurance)
Code | Start Date | Duration | Venue | |
---|---|---|---|---|
ISL 120 | 14 October 2024 | 5 Days | Istanbul | Registration Form Link |
ISL 120 | 18 November 2024 | 5 Days | Istanbul | Registration Form Link |
ISL 120 | 23 December 2024 | 5 Days | Istanbul | Registration Form Link |
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