January 10, 2016
@
8:30 AM
–
5:30 PM
The Roundtable Discussion : IFSB Exposure Draft on Guiding Principles for
Retakāful (Islamic Reinsurance) was held on 10 January 2016, in Manama, Bahrain, which was hosted by the Central Bank of Bahrain.
The IFSB has issued an Exposure Draft, ED-18: Guiding Principles for
Retakāful (Islamic Reinsurance) on 5 November 2015 for public consultation, aimed to provide the regulatory and supervisory authorities (RSAs) and market players of the
Takāful industry guidance relating to Retakāful. ED-18 identifies and sets forth a set of basic principles and best practices pertaining to
Retakāful activities of both
Takāful and
Retakāful Operators (TOs and RTOs).
This Roundtable aimed to invite greater engagement and garner feedback and comments from key industry stakeholders on the Exposure Draft prior to its final submission to the IFSB Council.
The Roundtable also saw active involvement from the key industry stakeholders, acted as chairperson and speakers for the Roundtable as well as 28 registered participants from among the IFSB member and non-member organisations.
Programme – Event Session(s)
| Date |
Time |
Topics |
| Day 1
10/01/2016 |
IFSB MEET THE MEMBERS AND INDUSTRY ENGAGEMENT SESSION
(VENUE: AMBASSADOR ROOM (MEZZANINE FLOOR)
ROUNDTABLE DISCUSSION : IFSB EXPOSURE DRAFT ON GUIDING PRINCIPLES FOR RETAKāFUL (ISLAMIC REINSURANCE)
VENUE : AL RIFAA BALLROOM (GROUND FLOOR) |
| 08:30 – 09:00 |
Registration |
| 09:00 – 10:10 |
IFSB MEET THE MEMBERS AND INDUSTRY ENGAGEMENT SESSION |
| 10:10 – 10:30 |
Coffee Break & Networking Session |
| 10:30 – 15:30 |
ROUNDTABLE DISCUSSION : IFSB EXPOSURE DRAFT ON GUIDING PRINCIPLES FOR RETAKĀFUL (ISLAMIC REINSURANCE) |
| 10:30 – 10:45 |
Opening Remarks |
| 10:45 – 11:10 |
Presentation on the Exposure Draft of the Guiding Principles for Retakāful |
| 11:10 – 11:30 |
Session 1: Understanding Retakāful and Its Underlying Contracts (Introduction to Retakāful, the Concept and the Principal Structures) Introduction to Retakāful, the Concept and the Principal Structures |
| 11:30 – 11:50 |
Session 1: Understanding Retakāful and Its Underlying Contracts (Retakāful Core Principles, Categorisation, and Special Issues) Retakāful Core Principles, Categorisation, and Special Issues |
| 11:50 – 11:30 |
Session 1: Understanding Retakāful and Its Underlying Contracts Open Discussion |
| 12:30 – 13:30 |
Lunch & Prayers |
| 13:30 – 13:50 |
Session 2: The Guiding Principles for Retakāful (Principle I: Governance of Retakāful Undertakings & Principle II: Compliance with Sharī`ah Principles) Principle I: Governance of Retakāful Undertakings Principle II: Compliance with Sharī`ah Principles |
| 13:50 – 14:10 |
Session 2: The Guiding Principles for Retakāful (Principle III: Prudential Framework, Principle IV: Transparency and Disclosure & Principle V: Supervisory Principle III: Prudential Framework Principle IV: Transparency and Disclosure Principle V: Supervisory |
| 14:10 – 14:50 |
Session 2: The Guiding Principles for Retakāful Open Discussion |
| 14:50 – 15:00 |
Chairman’s Summary |
| 15:00 – 15:30 |
Coffee Break End of Roundtable Discussion |
Downloadable Document(s)
