Event Detail

Overview

IFSB published a few standards dedicated to Islamic insurance industry as an effort to guide the industry towards a stable and sound financial environment. This IFSB-14 Standard is intended to establish minimum standards in the area of risk management, for the direction and guidance of Takaful Operators as well as insurance/Takaful supervisors.

This session will discuss how management of risks inherent in the Takaful Undertakings should be implemented in order to bring the Takaful industry to the desired level of effective supervision and regulation, at par with the conventional insurance industry, which always subject to the requirements of Shariah principles.

The central focus of this discussion will be given to the specific characteristics of a Takaful Undertakings (TU). Facilitator will help you to understand the fundamental difference of TU from conventional insurers in terms of ownership of the insurance risk, as well as enterprise risk management framework. 

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