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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 • 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
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
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 :
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.