MANAGEMENT

Introduction to Takaful
Receive a solid grounding in Takaful as well as Syariah principles and commercial considerationsand gain a solid grasp of Takaful to address Takaful in your working life. This excellent introductory course is targeted at new entrants to the Takaful industry. From basic concepts to operational models, the course will expand to a discussion of the features of latest indusry products and Takaful regulatory aspects.

31 January 2012 (Tuesday), concorde Hotel, Kuala lumpur

FacIlITaTor Name oF FacIlITaTor

MANAGEMENT

Introduction to Takaful

As Takaful continues to make strides in the Malaysian market, those in our industry may be hesitant to participate due to a lack of knowledge in the sector. Not any more. Come and build a solid foundation with us in Takaful as we explore the ins and the outs of the industry so that you can confidently participate in the Takaful industry!

oBJecTIves Participants will be: Given a solid introduction to Takaful; Illuminated on the aspects of Syariah compliance relevant to Takaful; Taught on Takaful contracts and its relationships; Introduced to Takaful models, products and regulatory guidelines; meTHodology Case studies, group presentations and pop quizzes to test participants' grasp of concepts. WHo sHould aTTeNd Commercial, investment, retail, merchant and Islamic bankers Corporate Finance and Banking Personnel Product Development Structurers Syariah Advisers and Officers Lawyers Accountants and Auditors Corporate and Financial Advisers Business and Finance Managers New Entrants and Existing Officers/Managers of the Takaful Industry/Insurance Industry Personnel All SC Licensed Reresentatives including Compliance Personnel All Legal Departments of Banks, Corporate and Governmentt Agencies All who are interested in drafting Syariah-compliant legal documents

FacIlITaTor muHammad zaHId aBdul azIz Muhammad Zahid was part of an International Accounting Firm, Arthur Young & Co. London office in 1977. He returned to Malaysia in 1982 and joined Arab Malaysian Merchant Bank, Kuala Lumpur. He joined Bank Islam Malaysia Berhad in 1990 where he pioneered and helped develop Islamic Corporate Banking, specialising in Islamic Syndications and Islamic Bond Issuance. His last position at Bank Islam was Senior Manager, Corporate Financing Department. Whilst at Bank Islam Zahid worked as part of the team that transacted the KLIA RM4.4 billion Malaysian Sukuk in 1996-a benchmark issue. He had arranged over RM6.0 billion in Islamic Bond Issues during his tenure there. He left Bank Islam in September 2000 to form a firm specialised in training and arranging of Islamic financing and also an SC approved Syariah Adviser for Sukuk. Between July 2006 and March 2009 Zahid was based in Riyadh as Head of Investment Banking & Sukuk Origination for Al Bilad Investment Company Ltd, a CMA licensed wholly owned subsidiary of Saudi Arabia's Bank Al Bilad. In April 2009 he returned to Malaysia to resume his position as a financial consultant. He holds a Bachelor's Degree in Economics from University of Exeter, United Kingdom.

MANAGEMENT

Introduction to Takaful

course ouTlINe

08:30 am 09:00 am

Registration What is Takaful? Insurance vs Takaful, basic similarities and differences Why is Insurance not Syariah Compliant? Structure of an Insurance Transaction, Arkanul Bai - Pillars of Buying and Selling Aqd, What is Gharar? Gharar vs Risk, What is Riba, Maysir and Haram? What is the Takaful transaction? Basic formula of Takaful, concept and origin of Takaful Syariah basis for Takaful

10:30 am 10:45 am

Morning break Essential contracts in Takaful Contracts in islamic law, definition of Aqd, classifications of Aqd Contractual relations in Takaful Between participants, Tabarru and Taawun, between participants and the Takaful operator, Mudarabah in Takaful, Wakalah in Takaful, Jualah in Takaful, Wadiah Yad Dhamanah in Takaful, Waqf in Takaful, underwriting surplus definition and issues, combination of contracts in Takaful, operational models, Conventional Operational Model vs Takaful Operational Model Types of Takaful operational models Pure cooperative model, pure Mudarabah model, modified Mudarabah model, pure Wakalah model, modified Wakalah model, Wakalah Mudarabah model, Waqf model Takaful products General and family products, industry examples of fire Takaful, health Takaful, house Takaful and motor vehicle Takaful, industry example of family Takaful, Participants Special Account (PSA), Participants, Personal Account (PA), Tabarru fund, mortgage Takaful, General Operational Model vs Family Operational Model

01:00 pm 02:00 pm

Lunch Regulatory aspects of Takaful Overall Regulatory Framework, Takaful Act 1984, Relevant Definitions, Registration Of Operators, Syariah Framework, Malaysian Takaful Association Statutory Deposits, Takaful Fund, Statutory Asset Requirements Authorised Malaysian Assets, Supervision And Examination, Takaful Guarantee Scheme Fund Conflict With Other Laws BnM Guidelines And Circulars Margin Of Solvency, Minimum Paid Up Capital

03:15 pm 03:30 pm

Afternoon Break Takaful Industry Statistics and players, Global vs Local, Current list of operators Comparative Statistics Takaful vs Insurance Retakaful What Is Retakaful? Basic Retakaful Structure, Treaty Retakaful vs Facultative Retakaful, Proportionate vs NonProportionate Treaties.

05:00 pm

End

Introduction to Takaful
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