Takaful Investment Portfolios

Home > Takaful Investment Portfolios: A Study of the Composition of Takaful Funds in the GCC and Malaysia

 Takaful Investment Portfolios: A Study of the Composition of Takaful Funds in the GCC and Malaysia
 Abdulrahman Khalil Tolefat, Mehmet Asutay
 Business & Economics
 John Wiley & Sons
 20th March 2013
ISBN-10: 1118385470

About the book

A ground breaking study of the investment portfolios of takaful companies, their general investment patterns, and their future investments

The Islamic finance industry has witnessed remarkable growth over the last decade, and one of the most successful segments—poised for even greater expansion—is the Islamic insurance (takaful) industry. In Takaful Investment Portfolios, distinguished takaful scholar Abdulrahman Khalil Tolefat explores the investment portfolios of takaful companies in both the GCC countries and Malaysia, the tip of Islamic finance industry. Investigating the trends and patterns of investment of takaful companies, the book looks at shareholders as well as general and family funds to determine where these companies are investing today, and where they are likely to invest in the future.

Presenting new and novel research on the investment patterns of takaful companies, Takaful Investment Portfolios covers the history of the industry and takaful models and how they work, and presents in-depth studies of both their real-world and desired portfolio investments.

Presents unique new research into the investment portfolios of takaful companies in the GCC and Malaysia.
Examines the gap between desired and actual investment portfolios of takaful companies.
Explores expected areas for future investment

Ground breaking in its depth, Takaful Investment Portfolios is an unprecedented study of the investments of takaful companies.

Author Information

Dr. AbdulRahman Khalil Tolefat began his career at the Central Bank of Bahrain. He later served as both chief executive officer and chairman of Allianz Takaful in Bahrain, the global hub for Islamic insurance (takaful) of Allianz Group. After leaving Allianz, he founded ITQAN Financial Services for which he now serves as Chairman and Managing Director. In addition, Dr. Abdul Rahman was a member of the CBB Committee that developed the insurance rulebooks in coordination with PricewaterhouseCoopers and a member of the working group between the International Association for Insurance Supervisors (IAIS) and the Islamic Financial Services Board (IFSB).

Dr. Mehmet Asutay is a Reader in Middle Eastern and Islamic Political Economy and Finance at the School of Government and International Affairs, Durham University; Director of the Durham Centre for Islamic Economics and Finance; Course Director of the MA/MSc in Islamic Finance; and the Director of the Durham Islamic Finance Summer School. Also, he serves as Managing Editor of Review of Islamic Economics and Associate Editor of the American Journal of Islamic Social Sciences, and is on the Editorial Advisory Board of International Journal of Islamic and Middle Eastern Finance and Management.


Book Review

The growth in the Takaful Industry has been accompanied by a phenomenal growth in the contributions pools available for investment. Latest estimates suggest that at the end of 2012, the Takaful industry needed to manage over US$12 billion of assets. Indeed, successful asset management has become critical for further growth of the Takaful industry. It is, therefore, surprising to see that very little, if any, work has been done on how these assets are managed by the Takaful industry, especially given the requirement that these assets be managed in a Shariah compliant way. The present study by Asutay and Tolefat seeks to fill this strategic gap in the Takaful industry’s thinking. Their juxtaposition of the Malaysian and GCC company experiences provides valuable insights into the need for integrated Islamic capital markets to provide enabling infrastructure for successful Islamic asset management. The study utilises data up to 2005. Subsequent events since then, especially the impact of the global financial crisis since 2007, only enhances the key conclusions of this pioneering study. I am sure that this path-breaking study will encourage other researchers to develop this neglected but vital area of Takaful operations. Asutay and Tolefat are to be congratulated for their valuable contribution.
M Iqbal Asaria
Afkar Consulting Ltd
Convenor, International Takaful Summit