Session III: 17 February 2015
Presentation: How the Mutual Model can be Adapted for Takaful: Addressing the Weakness of Current Takaful Models
Presented By: Zainal Kassim FIA
Designation: Senior Partner, Actuarial Partners Consulting Sdn Bhd
How the Mutual Model can be Adapted for Takaful: Addressing the Weakness of Current Takaful Models
- Takaful is 'Expensive'
- Takaful does not provide a comprehensive product range
- Takaful product is no different from conventional insurance
- 2013 Fiqh Academy ruling on takaful
- Discretionary Mutual
- Who manages a Discretionary Mutual?
- Advantages and Disadvantages of a Discretionary Mutual over a hybrid proprietary takaful set-up
- Business Structure
- Example of a Discretionary Mutual in the UK -The Military Mutual
- Conclusion
Session III: 17 February 2015
Presentation: Potential Role of Mutuals in Providing Takaful Services
Presented By: Azman Ismail
Designation: President, IIFIN Consulting Sdn Bhd
Potential Role of Mutuals in Providing Takaful Services
- The Trend
- DeMutualisation
- Why demutualisation?
- The Dark Side
- The Case Against Mutuals
- The IAIS
- IAIS issues paper on MOCCO's
- ICP Review
- Relation between Takaful and Mutual
- Shariah issue
- Example Recommendations
Session III: 17 February 2015
Presentation: The Ethics of Friendly Takaful Society
Presented By: Ajmal Bhatty
Designation: CEO, Alinma Tokio Marine - KSA
The Ethics of Friendly Takaful Society
- Taking a fresh look
- Quick definitions
- Interaction of Rating Factors
- Balance Sheet Strength
- Understanding Takaful Regulation
- Takaful Principles
- Questions
- Roadblocks
- Moving Forward ... the mathematics of cooperation
- Fresh Look ... Changing of Mind Sets