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MENAFN Press - 25/11/2009

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(MENAFN Press) The Islamic Financial Services Board (IFSB) is organising its 5th Seminar on the Regulation of Takaful on 22 “ 23 February in Dubai, United Arab Emirates. The Dubai Financial Services Authority is hosting the Seminar themed The Future of the Regulation of Takaful.

Islamic insurance or Takaful is becoming mainstream in todays financial world. It is reaching beyond the traditionally Muslim markets, moving into the realm of key global financial centres. The industry has shown remarkable growth, which is evidenced by the increasing number of Takaful players worldwide. The IFSB Seminar themed The Future of the Regulation of Takaful will be held at an appropriate time, given the growth that Takaful companies have witnessed in recent years and their ability to regain momentum after the challenges and downturns of the recent crisis.

The crisis has highlighted the need for regulatory bodies to strengthen their supervisory roles to ensure every stakeholder in the insurance industry chain is protected and buffered from another crisis should it occur. The Seminar is a platform for IFSB to highlight the relevance of the prudential standards that it has issued, as well as those it intends to prepare, in line with its mandate to facilitate the sound and stable development of the Takaful industry.

This 1-day Seminar aims to bring together a combination of market players, Shariah experts, standard-setters and regulators to confer on the increasing prudential challenges facing the industry. The Seminar will cover the following topics:
Solvency for Takaful Operations: Critical elements for prudential regulations

Governance of Takaful

Risk Management and Disclosure in Takaful Practices

The Role and Recognition of Ratings by External Credit Assessment Institutions

The Seminar will be preceded by a Roundtable Discussion on Solvency which the IFSB is organising on 21 February 2010. For more information on participation of the Seminar, please visit www.ifsb.org/takaful2010.com / email: ifsb_sec@ifsb.org

About The Islamic Financial Services Board IFSB
The Islamic Financial Services Board IFSB


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