By 2008, the total gross written premium (GWP) for takaful business (life and non-life combined) had grown to just under $5.1 billion.
Takaful Insurance Resources
Understanding Takaful Practice
Takaful originates from Arabic word Kafalah, which means "joint guarantee". In principle, the Takaful Insurance system is based on mutual co-operation, responsibility, assurance, protection and assistance between groups of participants
5th World Takaful Conference
The opening Keynote Plenary session at The 5th Annual World Takaful Conference (WTC 2010) will feature take-home strategies by leading industry decision makers, testimony of the overall significance of the forum in shaping the future of the global Takaful industry.
Dr. Ahmed Al Janahi, Managing Director, Noor Takaful & Deputy Group CEO, Noor Investment Group, Dr. Saleh J. Malaikah, Vice Chairman & Chief Executive Officer, Salama Group and Hussein Al Meeza, Managing Director and Chief Executive Officer, Dubai Islamic Insurance and Reinsurance (AMAN) will revisit Takaful growth forecasts in the aftermath of the global economic crisis.
Takaful Dilemma Facing European Insurer
LONDON (Reuters-inazj9y2vm) - Major European insurers eyeing a move into the market for Islamic insurance, or takaful, face a tough decision whether to use diminished resources to secure an upper hand or risk losing ground to niche providers. “Some of the bigger players in Europe definitely have plans to offer takaful products. The question is when’s the right time to launch them,” Khan said at the Reuters Islamic Banking and Finance Summit.
Middle East Insurance and Reinsurance Summit 2009
The Middle East Insurance and Reinsurance Summit will be held at the Monarch Hotel in Dubai on 11-15 2009, exploring Middle East insurance market growth potential of up to 400 percent, through a full programme of speeches, panel sessions and workshops for encouraging open discussion between delegates and expert panelists and speakers.
World First Charitable Insurance Product
T’azur launched first charitable insurance product named “Sadaqah” that would help donors save regular donations which T’azur invest in shari’a compliant funds over a set number of years. Then the accumulated capital passed to the Charity of donor’s choice. T’azur will contine making regular donations on the behalf of the donor through Takaful, in the event certain circumstances (e.g. illness, disablity) which prevent the donor from making charitable donations.
The rise of Islamic finance
The notion of ethical investing goes back at least to 1758, when the Quakers banned profiting from the slave trade. But the market for ethical investments has always remained a niche. The goals of maximizing profit and fulfilling a moral agenda conflict more often than they complement one another, and investors who want to put ethics first have turned out to be relatively few.
World Takaful Report 2008 launched at 3rd Annual World Takaful Conference
Nasser Al Shaali, CEO of Dubai International Financial Centre Authority (DIFCA) and Syed Moheeb Syed bin Syed Kamarulzaman, President & CEO of Takaful Ikhlas Sdn Bhd, inaugurated the 3rd Annual World Takaful Conference at an impressive ceremony attended by more than 200 international delegates at the Dusit Dubai today.
Islamic Finance on the Upswing
ISLAMABAD, 24 September 2007 — Islamic finance is on the upswing in the Middle East-Gulf-Pakistan-Asia region, a two-day Asia Finance Conference observed, and industry sources say the future potential is massive. They said that though Islamic financing sprang out of the Gulf region, Pakistan, Asian countries and the rest of the world are caching up.
MiddleEast Insurance Review turns one
The MiddleEast Insurance Review Incorporating Global Takaful (MIR) commemorates its first anniversary in September by holding the first-ever Global Middle East Insurance Summit in London. In its September issue, highlighting the Middle East and North African (Mena) reinsurance market and reviewing the challenges in the takaful market.
Innovation in Islamic banking is key to industry development, says Islamic finance expert
An Islamic finance expert today called upon Islamic financial institutions to make of innovation a priority in order to take Islamic banking to new heights as the industry is rapidly shifting from a niche into a mainstream segment in the global financial landscape.
Speaking at an Islamic finance workshop held in Dubai, Asif Mumtz, Regional Head of HSBC Amanah Middle East conceded that Islamic finance had seen tremendous growth over the past 25 years with a significant number of providers across many regions catering for almost all customer needs.
