Understanding Islamic Insurance
and Investments

12 – 16 August 2024
Sandton Centre Johannesburg South Africa

Register Now! Limited Seats Available!

R17, 999.00 Per Delegate

Course Overview

Islamic finance has grown rapidly, with the trend expecting to continue. Although the concept has been around for much longer, Islamic finance only attained a formal status in Muslim-majority countries in the 1970s. Today, it has become a global phenomenon, eliciting increasing interest around the world, including from non-Muslim countries like the United Kingdom, Luxemburg, Kenya, South Africa, and Hong Kong. Islamic finance has grown into a huge industry with total worldwide assets estimated at about US$2 trillion.

Islamic finance has the potential to contribute to higher and more inclusive economic growth by increasing access of banking services to underserved populations. In addition, it has the potential to promote financial stability due to its risk-sharing feature and its financing being asset-backed and thus fully collateralized. Moreover, Islamic banks offer profit-sharing and loss-bearing accounts that can help mitigate losses and contagion in the event of banking sector distress. These are all indications that Islamic finance is converging to the global finance industry and hence all international finance professionals should be aware of Islamic finance.

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

Who Should Attend?

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

Course Outline

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  

End of the workshop

IN HOUSE AND ONLINE TRAINING

While both In-House and Online training can present with cost-effectiveness and time-efficacy, there are some very specific differences between in-house courses and those based online.
The demand for additional courses by individuals or groups of people is increasing. Still, it depends entirely on the preferences of a person what type of training he or she wants to receive. Online courses and in-house training carry some similarities but they are considered to exhibit some very pivotal differences too. Despite that, both types of learning can be really beneficial for attendees.

For Registration and other Training arrangements,
contact us on the detail below.

SOUTH AFRICA : +27 11 057 6001
TANZANIA Cell: +255 769 688 544
WhatsApp +27 79 574 0389
info@bmktraining.co.za / www.bmktraining.com