The World Bank-IFSB-Turkish Treasury Joint Conference to Discuss Realising the Value Proposition of Takaful Industry for a Stable and Inclusive Financial System

Kuala Lumpur, 24 May 2016 – The World Bank Group (WBG), the Islamic Financial Services Board (IFSB), and the Undersecretariat of Treasury of the Republic of Turkey are jointly organising a conference focusing on the Takaful sector. This conference, which is themed as “Realising the Value Proposition of Takaful Industry for a Stable and Inclusive Financial System” will be organised in Istanbul, Turkey on May 30-31, 2016.

This Conference aims to provide a platform for global practitioners and stakeholders in Takaful (Islamic insurance) industry – including senior representatives of multilateral development institutions, insurance supervisors, Takaful and Retakaful undertakings and academics – to discuss selected emerging issues faced by this sector. The deliberations in the Conference will cover the recent outlook of the Takaful industry and its potential in enhancing risk coverage of households and corporates, its role as a tool for financial inclusion as well as supporting the growth of Islamic finance industry globally.

Chairpersons and Speakers who have confirmed their participation in this Forum are:

1. Dr. Ahmet Genc, Deputy Undersecretary, Undersecretariat of the Treasury, The Republic of Turkey
2. Jaseem Ahmed, Secretary-General, Islamic Financial Services Board
3. Ramazan Ülger, President, Insurance Association of Turkey, The Republic of Turkey
4. Ozgur Koc, President, Participation Insurance Association, The Republic of Turkey
5. Mohd Zabidi Md Nor, Director, Islamic Banking and Takaful Department, Bank Negara Malaysia
6. Gökhan Karasu, Acting Director General, Undersecretariat of the Treasury, The Republic of Turkey
7. Zamir Iqbal, Ph.D., Head, Global Islamic Finance Development Center, Finance and Markets Global Practice, The World Bank
8. Serap Gonulal, Lead Insurance Specialist, The World Bank
9. Dr. Ludwig Stiftl, Consultant, The World Bank
10. Muhammad Owais Ansari, Member of the Board, FWU AG, Germany
11. Ayhan Sincek, General Manager, Participatory Retirement, The Republic of Turkey
12. Sohail Jaffer, Group Partner & Head of IBD, FWU AG, Germany
13. Dr. Alberto Brugnoni, Founder and Managing Partner, ASSAIF, Italy
14. James A. Smith, Executive Director, Financial Services, Ernst & Young LLP, UK
15. Zainal Abidin Mohd Kassim, Senior Partner and Managing Director, Actuarial Partners Consulting, Malaysia
16. Dr. Hatim El Tahir, Director, Islamic Finance Group, Deloitte and Touche, Bahrain
17. Peter Casey, Consultant, Islamic Financial Services Board
18. Professor Habib Ahmed, Sharjah Chair in Islamic Law and Finance in the Business School, Durham University, UK

The Conference will also include discussion on the developments made in the legal, regulatory, and supervisory framework for Takaful and Retakaful sectors, focusing on the pre-requisites and governance of these sectors at national and international levels. Various sessions in this one and half day conference will cover the following themes:

• Global Overview of the Takaful Sector: Trends and Policy Developments
• Regulatory Developments and Implications for the Industry – Contrasting the Various Approaches to Regulating the Takaful Industry
• The Role of Microtakaful in Financial Inclusion
• Risk Management and Governance in Takaful Undertakings
• Challenges in Developing the Retakaful Sector
• Panel Discussion – Taking Takaful to the Next Level

For participation, please register online at the IFSB website or email Ms. Yazmin Aziz at [email protected].