Sterling Success of the first of its kind Seminar on the Regulation of Takaful prompted the

Following the sterling success of the Seminar on the Regulation of Takaful held in January this year in Jordan, the Islamic Financial Services Board (IFSB) is organising the 2nd Seminar on the Regulation of Takaful (Islamic Insurance). The Seminar will take place on 23-24 February 2006 at The Andaman, Langkawi Island, Malaysia.

The Secretary-General of the IFSB, Professor Rifaat Ahmed Abdel Karim, said, “Our objective in making this Seminar a timely event is because the IFSB will start to prepare prudential standards for Takaful and the Seminar will provide a platform to discus pertinent regulatory issues with regulators, market players and other interested parties.”

The confirmed chairpersons and speakers so far include:

•  Datuk Zamani Abdul Ghani, Deputy Governor, Bank Negara Malaysia, Malaysia
•  H.E. Dr. Bassel Hindawi, Director General, Insurance Commission of Jordan, and Vice Chairman, Board of the Insurance Commission of Jordan, Jordan
• Dr. Mohd Daud Bakar, President & CEO, International Institute of Islamic Finance Inc, Malaysia
• Mr. Md. Azmi Abu Bakar, Chief Executive Officer, Syarikat Takaful Malaysia, Malaysia
• Mr. R. Ferid Benbouzid, Managing Director, B.E.S.T Re, Tunisia
• Mr. Syed Moheeb Syed Kamarulzaman, Managing Director, Takaful Ikhlas Sdn. Bhd., Malaysia
• Mr. Anwar Khalifa Ebrahim Al-Sadah, Executive Director, Financial Institutions Supervision, Bahrain Monetary Agency, Bahrain
• Mr. Kamsani Tati, Deputy CEO, Tokyo Marine Nichido Retakaful Pte. Ltd., Singapore
• Mr. Peter Casey, Director, Insurance Supervision, DIFC Financial Services Authority, UAE
• Mr. Bakarudin Ishak, Director, Takaful & Islamic Banking, Bank Negara Malaysia, Malaysia
• Mrs. Kholoud Saqqaf, Director of Research Department, Insurance Commission of Jordan, Jordan
• Dr. Abdel-Rahman Eltayeb Ali Taha, General Manager, The Islamic Coporation for the Insurance of Investment & Export Credit (ICIEC), Saudi Arabia
• Mr. Osman El Hadi, General Manager, Sheikan Insurance Co., Sudan
• Mr. Ahmed M. Sabbagh, General Manager, The Islamic Insurance Co., Jordan
• Mr. Dawood Taylor, Assistant General Manager & Head of Takaful Ta’awuni, Bank Al Jazira, Saudi Arabia
• Professor Simon Archer, University of Surrey, UK
• Mr. Abdul Rahman Khalil Tolefat, Superintendent of Islamic Financial Institutions, Islamic Financial Institutions Directorate, Bahrain Monetary Agency, Bahrain
• Mr. Wafik Grais, Senior Adviser, Financial Sector Global partnership Group, The World Bank, USA
• Mr. Zainal Abidin bin Mohd Kassim, Principal/ Actuary, Mercer Zainal Consulting Sdn. Bhd., Malaysia
• Mr. Hamid Yunis, Partner, Taylor Wessing, UK
• Dr. Ahmad Ali Abdallah, Shari’ah Advisor to the Governor, Bank of Sudan, Sudan
• Dr. Abdullah bin A. Al-Muajel, Head of Shari’ah Control Department, Al Rajhi Banking & Investment Corporation, Saudi Arabia
• Ms. Lisa Kelaart-Courtney, Associate Director, Supervision , Dubai Financial Services Authority, UAE
• Mr. Alan Rees, General Security, Aon Ltd., UK

The Seminar is designed to bring together an audience of industry experts and practitioners, the board members of Takaful operators, regulators and Shari’ah scholars.

The Seminar will address the following topics:

• IAIS Core Principles & their Implications on Takaful Industry
• Corporate Governance and Transparency Issues
• Analysis of Investments undertaken by Takaful Companies under Different Regulatory Regimes
• Fiqh Issues in Takaful Industry
• Regulatory Impediments faced by Market Players for Takaful Industry

The IFSB has set up an enlightening and dedicated website for the Seminar at http://www.ifsbtakaful.com which offers up-to-date information and registration form that can be downloaded.

The Seminar will be held back-to-back with the 2nd International Symposium on Takaful. The Symposium will be held at the same venue on 21 and 22 February 2006. For further information or to register, please visit the Symposium website at www.takaful2006.com