The World Bank-IFSB-Turkish Treasury Joint Conference to be held in May 2016

Kuala Lumpur, 9 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 on “Realising the Value Proposition of Takāful Industry for a Stable and Inclusive Financial System” on May 30-31, 2016 in Istanbul, Turkey.

This Conference aims to provide a platform for global practitioners and stakeholders in Takāful (Islamic insurance) industry – including senior representatives of multilateral development institutions, insurance supervisors, Takāful and Retakāful undertakings and academics – to discuss selected emerging issues. The deliberations in the Conference will cover recent outlook of the Takāful 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.

The Conference will also include discussion on the developments made in the legal, regulatory, and supervisory framework for Takāful and Retakāful 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:

1. Global Overview of the Takāful Sector: Trends and Policy Developments
2. Regulatory Developments and Implications for the Industry – Contrasting the Various Approaches to Regulating Takāful
3. The Role of Microtakāful in Financial Inclusion
4. Risk Management and Governance in Takāful
5. Challenges in Developing the Retakāful Sector
6. Panel Discussion – Taking Takāful to the Next Level

The Conference will commence with a discussion on the current state of the Takāful industry as well as the evolving nature of the related legal and regulatory requirements in various regions. Later discussions will cover the challenges facing the industry and necessary actions required to advance the market conditions at both national and global level. A session has been dedicated to illustrate the role of Takāful and Microtakāful sector in enhancing financial inclusion in emerging and advanced markets. Similarly, key trends and operational issues faced by Retakāful sector will be the theme of another session where speakers will delineate important recommendations to develop the market. The conference will close with a panel discussion on the untapped potential of Takāful and Retakāful sector and how its growth can contribute to a stable, inclusive and resilient Islamic finance sector.

The papers presented in this Conference will be published in the form of a joint publication by the IFSB and World Bank.

For participation, please register online at the IFSB website (http://www.ifsb.org) or email Ms. Yazmin Aziz at [email protected].