IFA: Takaful

A 2-day programme offering an introduction to Takaful and Takaful structures, investments, accounting procedures and Re-takaful. This course forms part 6 of the Islamic Finance Academy.
Introduction to takaful and takaful structures Introduction Definitions of takaful Critical concepts A short history of takaful and related insurance concepts How takaful works, including the Qard al-Hasan and takaful operators Comparison of takaful and conventional insurance Summary of takaful conditions Views of conventional insurance Prohibited items in takaful Unique elements of takaful Tabarru Qard al-Hasan Shari’ah boards Dissolution Takaful models Ta’awuni model Mudaraba + wakala model Wakala model Wakala – waqf model Takaful products Distribution channels, including bancassurance Overview of the takaful markets Takaful accounting and investments Takaful accounting considerations Takaful investment considerations Governance matters and takaful Shari’ah boards and governance in the Takaful context Shareholders, policyholders, stakeholders and the takaful fund Capital adequacy and the Qard al-Hasan Takaful operators Re-Takaful Introduction Definitions of re-takaful Critical concepts A short history of re-takaful and related insurance concepts How re-takaful works, Including the Qard al-Hasan and re-takaful operators Re-takaful models Ta’awuni model Mudaraba + wakala model Wakala model Wakala – Waqf model Surplus in takaful Defining surplus in takaful Different conceptions of surplus sharing Bankruptcy considerations and entitlements to surplus Surplus under difference takaful models A case study: the case of the missing surplus. Course summary and close