5th IFSB Takāful Seminar to discuss The Future of the Regulation of Takāful
Date posted: 25 November 2009
Kuala Lumpur, 25th November 2009 – The Islamic Financial Services Board (IFSB) is organising its 5th Seminar on the Regulation of Takāful on 22 – 23 February in Dubai, United Arab Emirates. The Dubai Financial Services Authority is hosting the Seminar themed The Future of the Regulation of Takāful.
Islamic insurance or Takāful is becoming mainstream in today’s financial world. It is reaching beyond the traditionally Muslim markets, moving into the realm of key global financial centres. The industry has shown remarkable growth, which is evidenced by the increasing number of Takāful players worldwide. The IFSB Seminar themed “The Future of the Regulation of Takāful” will be held at an appropriate time, given the growth that Takāful companies have witnessed in recent years and their ability to regain momentum after the challenges and downturns of the recent crisis.
The crisis has highlighted the need for regulatory bodies to strengthen their supervisory roles to ensure every stakeholder in the insurance industry chain is protected and buffered from another crisis should it occur. The Seminar is a platform for IFSB to highlight the relevance of the prudential standards that it has issued, as well as those it intends to prepare, in line with its mandate to facilitate the sound and stable development of the Takāful industry.
This 1½-day Seminar aims to bring together a combination of market players, Sharī`ah experts, standard-setters and regulators to confer on the increasing prudential challenges facing the industry. The Seminar will cover the following topics:
- Solvency for Takāful Operations: Critical elements for prudential regulations
- Governance of Takāful
- Risk Management and Disclosure in Takāful Practices
- The Role and Recognition of Ratings by External Credit Assessment Institutions
The Seminar will be preceded by a Roundtable Discussion on Solvency which the IFSB is organising on 21 February 2010. For more information on participation of the Seminar, please visit www.ifsb.org/takaful2010.com / email: email@example.com
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