Islamic Insurance

Trends, Opportunities and the Future of Takaful
Erscheinungsjahr 2007
ISBN: 978-1-84374-279-1
Verlag: Euromoney

Buch, Englisch, 350 Seiten

The Islamic insurance, or Takaful industry, is in a rapid phase of expansion, with numerous Takaful operations in 30 countries with Takaful premiums covering non-life and life. This growth gives rise to both opportunities and challenges to traditional and Islamic financial institutions in the provision, distribution and underwriting of Islamic insurance products.

Edited by the best-selling author Sohail Jaffer with contributions from 21 specialist contributors, this is the only book to explore every aspect of Islamic Insurance.

Topics covered include:

- Takaful models and their development
- Re-Takaful
- Concerns in the provision of Takaful
- Business models
- Retailing Takaful
- Marketing financial services
- Distributing through joint ventures
- Innovations in the Northern and Southern African markets
- Integrating Takaful within conventional bancassurance
- Legal, regulatory and operational issues
- Rating of Takaful companies

"This book is written by professionals with extensive experience of takaful. It will be an invaluable guide … to understanding the models and mechanisms in use and the challenges and opportunities facing the takaful market." - From the foreword by Susan Dingwall, Partner, Norton Rose.

Autoren/Hrsg.

Jaffer, Sohail

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Versicherungswirtschaft
• Geisteswissenschaften Islam & Islamische Studien Islam & Islamische Studien

Inhaltsverzeichnis

Islamic Insurance: Trends, Opportunities and the Future of Takaful

PART I – AN INTRODUCTION TO TAKAFUL

Chapter 1: The growth and global market for Islamic insurance products
Ajmal Bhatty, HSBC Amanah

Chapter 2: Factors driving growth from consumers or Takaful providers
Sameer Abdi, Ernst & Young

PART II – THE TAKAFUL MODELS AND MECHANISMS

Chapter 3: Takaful as a wealth management vehicle
Douglas Clark Johnson, Stephanie Mumford Brown & Kirk B Smith, Calyx Financial LLC

Chapter 4: Takaful models and Banctakaful in Malaysia
Zainal Kassim, Mercer Zainal

Chapter 5: Developing comprehensive Takaful products
Atsuhiko Ayabe, Hong Leong Islamic Bank*

Chapter 6: Re-Takaful
Chakib Abouzaid, Takaful Re

Chapter 7: Misconceptions and concerns in the provision of Takaful
Rodney Wilson, University of Durham

PART III – BUSINESS DEVELOPMENT AND DISTRIBUTION ISSUES

Chapter 8: Business models
Andrew Smith, Saudi British Bank

Chapter 9: Retailing Takaful
Ajmal Bhatty, HSBC Amanah

Chapter 10: Marketing financial services
Bassel Issam Hanbali, Solidarity

Chapter 11: Distributing through joint ventures
Keith Driver, HSBC

Chapter 12: Innovations in the Northern and Southern African markets
Adam Ebrahim, Oasis

Chapter 13: Strength and opportunity of Takaful. Integrating Takaful within conventional bancassurance
Mohd Tarmidzi bin Ahmad Nordin, Maybank

PART IV – LEGAL, REGULATORY AND OPERATIONAL ISSUES

Chapter 14: Legal challenges facing the structuring of Sharia-compliant investment mechanisms for Takaful products
Ayman Khaleq, Vinso & Elkins LLP

Chapter 15: Operating considerations for Takaful companies
Omar Fisher, Unicorn Investment Bank

Chapter 16: The legal and regulatory challenges for Takaful providers
Susan Dingwall, Norton Rose

Chapter 17: DIFC regulatory framework for Takaful and Retakaful companies
Peter Casey, Dubai Financial Services Authority

Chapter 18: Regulatory issues from Qatar
Shankar Garigiparthy, QFCRA

Chaptyer 19: Regulatory issues from Malaysia
Wan Mohd Nzri Wan Osman, Bank Negara

Chapter 20: How are Takaful companies rated?
Timour Boudkeev, Moody’s

Über Autor(innen)

Sohail E Jaffer is a Managing Director of Premium Select Lux SA, an asset management subsidiary of the FWU Group. The company is based in Luxembourg and specialises in Multimanager and Quant based investments. He is also a Partner and the Head of International Sales and Distribution for ‘white label’ bancassurance, bancatakaful and asset management services within the FWU Group, an independent financial services group headquartered in Munich. The Group’s main activities include asset management, bancassurance and individual pension plans. He successfully concluded several major bank distribution deals. The Group’s branch network includes Luxembourg, Italy, UAE and Malaysia.

Mr Jaffer is currently a Council member of the Alternative Investment Management Association (AIMA). He also served as Chairman of the Association for two consecutive terms for the period 1997 to 2000. He has written extensively on alternative investments, including editing Alternative Investment Strategies, Funds of Hedge Funds: For Professional Investors and Managers, Hedge Funds: Crossing the Institutional Frontier and contributing a chapter each to Evaluating and Implementing Hedge Fund Strategies (third edition), and The New Generation of Risk Management for Hedge Funds and Private Equity Investments all published by Euromoney books. He recently also edited the new Euromoney publication on Multi-manager Funds: Long-only strategies for Managers and Investors and three publications on Islamic Asset Management, Islamic Retail Banking and Finance and Islamic Insurance (Takaful).

Sohail is also a member of ALFI’s Asset Management Advisory Committee and of ALFI’s Hedge Fund Committee. ALFI is the Association of the Luxembourg Funds Industry.