CERTIFIED TAKAFUL BUSINESS ESTABLISHMENT MANAGEMENT PROFESSIONAL​

NAME OF THE COURSE
CERTIFIED TAKAFUL BUSINESS ESTABLISHMENT MANAGEMENT PROFESSIONAL​
 
CERTIFICATION
CERTIFIED TAKAFUL BUSINESS ESTABLISHMENT MANAGEMENT PROFESSIONAL​
 
COURSE OVERVIEW
Takaful (Arabic: التكافل, sometimes translated as “solidarity” or mutual guarantee) is a cooperative system of reimbursement or repayment in case of loss, organized as an Islamic or sharia-compliant alternative to conventional insurance, which contains riba (usury) and gharar (excessive uncertainty)

Under takaful, people and companies concerned about hazards make regular contributions (“donations”) to be reimbursed or repaid to members in the event of loss, and managed on their behalf by a takaful operator. Like other Islamic finance products, Takaful is grounded in Islamic Muamalat (commercial and civil acts or dealings branch of Islamic law).

The takaful industry had grown to a size of $27.7 billion of “contributions” (from a 2011 figure of $12 billion). The movement has been praised as providing “superior alternatives” to insurance that “reinvigorate human capital, emphasize personal dignity, community self-help, and economic self-development”; but also criticized as having “dwindled” in scope to an industry of “conventional insurance with Arabic terminology and language of contract”.
 
TRAINING DURATION
Total Training Hours : 22 Hours
Training Duration      : 1 Week
Total Training  Days  : 4-5 Working Days
 
TRAINING SCHEDULE
Weekdays  
Regular Sessions : 4 – 6 Hrs Per day (9am to 2pm or 3.00pm to 9.00 pm)
Food & refreshments Included
Fast Track Sessions: 8 Hours per day (9am to 5pm)
Food & refreshments Included
 
CERTIFICATION
Globally recognized certificate from “Kings Global Career Academy”
 
TEST
Optional
 
LEARNING AIDS
Yes
 
COURSE MATERIAL
Hard & Soft Copies of Study Material
 
LANGUAGE OF INSTRUCTION
English
 
INSTRUCTOR HELPLINE
Yes
1. Email
2. Social Media (For Emergency requirements)
 
REGISTRATION REQUIREMENTS
1. Passport Copy
2. Curriculum Vitae
3. Passport size photographs
4. Course Fee
 
MODE OF PAYMENT
Cash / Cheque / Credit Card / Bank Transfer.
 
ELIGIBILITY CRITERIA
This course is designed for anyone interested in Takaful (Islamic) insurance and wishes to gain an understanding of how it works.

It may also be of interest to those who are interested in exploring alternative approaches to insurance and financial planning.
 
COURSE BENEFITS
Participants will be able to answer and work on the following:
1. Takaful business management
2. Regulatory requirements
3. Takaful laws
4. Financial management
5. Actuary
 
COURSE CONTENTS
MODULE 1
  1. The law of takaful
  2. Supervision and regulation in takaful
  3. Studying the existing rules and regulations
  4. Elements of the takaful contract?
  5. Harmonisation of “takaful” (islamic insurance) regulation

CASE STUDIES
  1. Malaysia
  2. Saudi Arabia
  3. UAE
  4. Others
 
MODULE 2
  1. Capital and risk based capital in takaful
  2. The sources of surplus and surplus distribution
  3. Asset-liability management
  4. Investment of takaful resources and return on investment (ROI) calculations 
  5. Takaful accounting and reporting
  6. AAOIFI and the IFSB standards
  7. Difference between conventional insurance  and takaful accounting
  8. Takaful financial statement
  9. Taxation, Zakat and investment in takaful
  10. Takaful fund deficit
  11. Managing all types of takaful funds
  12. Investments in shareholders’ fund
 
MODULE 3
  1. Shariah restrictions to conventional  reinsurance
  2. Retakaful structures and programming and  challenges for Retakaful operators
  3. Providing solutions in the absence of Retakaful
  4. Determining optimal retention level
 
MODULE 4
  1. Pricing of Takaful products
  2. Takaful reserving (technical reserve, loss  reserve, mathematical reserve, etc.)
  3. The method of calculating surplus and its  distribution
  4. Examining the underwriting software system  of one Takaful company- case study
  5. Determining loading factors (administrative  expenses, commission, etc.) 
REGISTER