ICMIF Takaful Network Seminar
16 June 2008 to 17 June 2008
Kuala Lumpur, Malaysia
Host: Etiqas
Organiser: ICMIF
The first ICMIF Takaful Network meeting was held on June 16 and 17, 2008 at the Prince Hotel and Residence in Kuala Lumpur, Malaysia. The meeting hosted by Etiqa had forty delegates registered from eighteen member organisations attending. The aim was to bring together the wealth of experience amongst ICMIF members across the globe and include presentations from Trinidad & Tobago, Canada, Pakistan and Bahrain. This was a unique opportunity for members to exchange ideas in a friendly workshop environment and the first time many Takaful members particpated in an ICMIF event.
As well as listening to presentations on day one delegates were invited to visit the offices of Etiqa and Takaful Ikhlas to discuss first hand operational issues with company representatives. Etiqa also produced a daily newsletter for the seminar delegates, which can be downloaded below.
- Etiqa Daily Bulletin on ICMIF Takaful Network meeting - 1
- Etiqa Daily Bulletin on ICMIF Takaful Network meeting - 2
- Etiqa Daily Bulletin on ICMIF Takaful Network meeting - 3
Presentations
- How Do We Operationalise Our Model?, Tn Hj Mohd Tarmidzi Ahmad Nordin, Etiqa
ENGLISH - Humanising Takaful through Cyber Communities, Mr.Izzuddin Shah Othman, Etiqa
ENGLISH
21 May 2004
Tunis, Tunisia
The seminar attracted 61 delegates from 18 countries and included presentations from the cooperative and mutual movement and the Islamic insurance sector. Dawood Taylor, head of Takaful Tawunni (Saudi Arabia), confirmed that mutual and cooperative principles were at the heart of insurance under Islamic law, but noted that regulatory restrictions have made it necessary for outside capital to be required and this has meant many recently formed Takafuls have been a hybrid of the mutual and stock form.
In his conclusions Mr Taylor stated that the best form of Takaful would ideally be an existing mutual or cooperative insurer which invested its premiums compliant with Islamic principles, which basically are truly ethical.
Ahmed Sabbagh, general manager, the Jordan Islamic Insurance Company, in his presentation recognised the need for the Takaful movement to work closely with the mutual and cooperative movement. The session was concluded by Farid Benbouzid, managing director, BEST Re, with encouragement for the two movements to build a closer relationship and to work on building upon their core similarities.
The session on poverty included presentations on projects in Senegal, Mali and Tunisia demonstrating that the mutual and cooperative form was prevalent across Africa and was the most appropriate vehicle to provide financial services to low income sectors. Presentations were also made on the challenges of developing insurance markets by Jean-Louis Bancel for the African market and Farid Benbouzid on the current developments in Middle East insurance sector.
The session concluded that greater cooperation and assistance was needed to enable the sustainable growth of the insurance provision in these regions.
“The seminar on mutuality and cultural diversity has laid the ground for new and interesting avenues for the international cooperative and mutual insurance movement and we are grateful to Best Re for this unique opportunity. It is now important for ICMIF to build on the findings of this seminar and extend the hand of cooperation to the Takaful movement and support the principles of mutuality in all its various forms.” said Hans Dahlberg, former chief executive, ICMIF.
Presentations
- Principles and practices around the world, Hans Dahlberg
ENGLISH | FRENCH - The benefits of mutuality and an analysis of the French market, Jean-Louis Bancel
ENGLISH | FRENCH - Takaful models around the world and the case of Takaful Tawwuni, Dawood Taylor, Bank Al Jazira
ENGLISH | FRENCH - Mutuality and Takaful, the case of Jordan, Ahmed Sabbagh, The Islamic Insurance Company
ENGLISH - A viewpoint on the development of the global Takaful sector, R. Farid Benbouzid, BEST Re
ENGLISH | FRENCH - Mutuality, cultural diversity and development: The case of Senegal, Ibrahima Cissé, SOSAR
ENGLISH | FRENCH - Health insurance and micro-insurance in Western Africa, Kulmie Samantar, FNMF
ENGLISH | FRENCH - Micro-insurance in the Maghreb, Sami Guellouz, BEST Re
ENGLISH | FRENCH - Product development in the African market, Jean-Louis Bancel
ENGLISH | FRENCH - Issues in a changing insurance market, the case of the Middle East, R. Farid Benbouzid, BEST Re
ENGLISH | FRENCH
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