International Takaful Summit 2011

The 5th International Takaful Summit 2011

Presentations & Programme

Theme: Mainstreaming & Globalising Takaful

The past decade has seen an explosion in the proliferation of Islamic Finance on a truly global scale and undoubtedly the Takaful industry has taken pride of place as the major growth sector in recent years. The industry has exhibited an annual growth rate of over 30% in recent years and has gained favour in both Muslim and non-Muslim jurisdictions.

Takaful contributions have surpassed the $10 billion mark and forecasts predict contributions will to total over $12 billion by the end of the year and with the markedly low market penetration, the prospects for Takaful are phenomenal. However, like any emerging industry, the future presents a number of challenges to continued successful augmentation. The need for consumer education and acceptance, the lack of experienced human resource and the need for more diversified product lines all need to be addressed in order that Takaful become a truly viable alternative to insurance cover.

The 5th International Takaful Summit will look to investigate these issues and provide a blue print to bridge the divide between the Takaful and insurance industries.

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