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Wrap Up Session for ICMIF Takaful Network Seminar

Wrap Up Session for ICMIF Takaful Network Seminar. Wrap Up Session for ICMIF Takaful Network Seminar. Key Points Arising CBB Views Corporate Governance Policy holders Rights Accounting Standards & Disclosures Qard Hassan reporting / disclosures HR challenges

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Wrap Up Session for ICMIF Takaful Network Seminar

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  1. Wrap Up Session for ICMIF Takaful Network Seminar

  2. Wrap Up Session for ICMIF Takaful Network Seminar • Key Points Arising • CBB Views • Corporate Governance • Policy holders Rights • Accounting Standards & Disclosures • Qard Hassan reporting / disclosures • HR challenges • Development of Islamic instruments market for investment diversity • Re Takaful Capacity & utilization • Risk Management framework development • Micro Takaful • Raising awareness

  3. Wrap Up Session for ICMIF Takaful Network Seminar • Growth Prospects • Overviews of business numbers and potentials • RiskRadar concept • Mutuals • What can we learn from Mutuals? • Customers Participation & Focus • MarketInfo • Sri Lanka and Bangladesh

  4. Wrap Up Session for ICMIF Takaful Network Seminar • Ethical Positioning • Meeting the promise • Setting Standards • Corporate Social Responsibility • Balancing Shareholders Expectations and Policyholder rights • Surplus Distribution should not be the prime objective • Protection and solidarity should drive the business • Corporate Governance • Corporate Governance nowadays deals with all stakeholders interests not just the role of directors and Shareholders • IFSB Exposure draft Document to be responded to by 15 / 5 / 2009 • Conflicts of interest between shareholders and policyholders funds from :

  5. Wrap Up Session for ICMIF Takaful Network Seminar • Wakala Fees • Reserves • Competitive Forces • Investments • Deficits Reasons for Qard Hassan and income on those funds • Re Takaful • Sufficient Re Takaful capacity now exists • Is Re Takaful “Risk Transfer” or “Risk Sharing “? • Statistics and Comparisons by market and Re Takaful Companies • Beyond capacity what facility can be provided? • Capability to “Lead “ • No Retro Takaful capacity as yet – need for pools or syndicates.

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