Sunday, May 14 2017, 08:00 – 16:30
Al Baraka Banking Group (ABG),
Manama, Bahrain
Deloitte and IRTI-IDB Group executive workshop 10Takaful Sukuk: a new strategy for industry growth and competitiveness
Jointly organized with
Hosted by
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Deloitte and IRTI-IDB Group executive workshop
About the program
Global Takaful insurance assets reached US$38
billion in 2015 and were mainly driven by the
top three countries: Saudi Arabia, Iran and
Malaysia, holding 85% of total global assets
(ICD -Thomson Reuters, 2016).
Although Takaful markets have not grown in
tandem with the Sukuk and Islamic banking
markets, several key themes have emerged
about Takaful growth opportunities and
potential markets. One of these themes
includes the interest from Takaful operators
to tap into the Sukuk market to fund their
business operations and expansions. Needless
to say, Takaful firms can also invest in Sukuk,
whose features include long-tenure assets, to
manage their asset and liability requirements.
This executive workshop aims to discuss,
among other issues, the key regulatory and
business requirements to develop a ‘Takaful
Sukuk market’, to help improve, industry
sustainability and competitiveness.
The discussion will aim to produce new insights
on regulation, market institutions and the
support required to help Takaful businesses
grow more efficiently.
Workshop objectives
• To build greater understanding of the key
regulatory and market strategies that will
shape the demand for Takaful Sukuk.
• To discuss the regulatory and policy
environment and change required to boost
demand for Sukuk issuance in the industry.
• To address key operational, functional and
leadership requirements to develop Takaful
Sukuk.
• To discuss best practices in governance, risk,
and Sharia’ as well as the support required.
Program approach
• Interactive participation and discussions,
which aim to address key regulatory, practice
and policy issues.
• Panel discussion with industry subject matter
experts (SMEs) to share their perspectives and
strategic insights on the benefits to be gained
from best practices and harmonization in
regulation and industry policy development
initiatives.
Who should attend?
• Takaful and insurance executives
• Islamic/conventional banking executives
• Capital market and investment professionals
• Regulatory and supervisory officers
• Credit and rating analysts
• Portfolio and fund managers
• Financial planning consultants
• Legal and Sharia’ advisors
• Professional services staff
Registration
• By invitation. First come, first served.
About IRTI
Islamic Research & Training Institute (IRTI), is
a member of the Islamic Development Bank
Group (IDB) responsible for leading the
development and sustenance of a dynamic
and comprehensive Islamic Financial Services
Industry that supports socio-economic
development in member countries.
Background and context
This executive workshop
aims to discuss, among other
issues, the key regulatory
and business requirements
to develop a ‘Takaful Sukuk
market’, to help improve,
industry sustainability and
competitiveness.
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Deloitte and IRTI-IDB Group executive workshop
Workshop agenda
Time Topics Proposed time
8:00 – 8:45 Registration 45 Min
8:45 – 9:10 Welcome notes
• Deloitte: Zahi Zeini, Bahrain Office Managing Partner, Deloitte Middle East.
• Host welcome note: Adnan Ahmed Yousif, President and Chief Executive, Al Baraka Banking Group (ABG).
25 Min
9:10 – 9:30 The Takaful industry: Regulatory initiatives and market growth trends
Industry briefing: A. Rahman Al Baker, Executive Director of Financial Institutions Supervision, Central
Bank of Bahrain.
20 Min
9:30 – 11:00 Session 1 – The regulatory and policy environment: The need for industry transformation
Session objective:
• Discuss the regulatory and business requirements for Takaful Sukuk issuance to drive growth and sustainability.
Moderator:
• Dr.Hatim El Tahir, Director, Islamic Finance Group, Deloitte Middle East.
Key discussion points:
• What are the regulatory changes and policy support required to develop Takaful Sukuk? What about capital
adequacy, solvency, risk management and governance?
• How can regulators align policies and regulations to support industry growth?
• What efforts and policy support are required from regulators to develop talent and knowledge skills in this industry?
Panel members:
• Scott Lim, Senior Manager, Supervision, DFSA.
• Mahomed Akoob, Managing Director, Hannover ReTakaful.
• Dr. Omar Fisher, Managing Director, Khidr Solutions Consultancy.
• Mohamed H El Dishish, Chief Executive Officer, EmiratesRE
75 Min
Group discussion 15 Min
11:00 – 11:30 Coffee and networking break
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Deloitte and IRTI-IDB Group executive workshop
Time Topics Proposed time
11:30 – 13:00 Session 2 – Takaful Sukuk: A transformation instrument of Takaful business
Session objective:
• Address key operational, functional and leadership requirements to develop Takaful Sukuk.
Moderator:
• Irshad Mahmood, Partner, Deloitte Middle East.
Key discussion points:
• What are the industry segments and geographies? Which sectors will benefit more from issuances of Takaful sukuk?
• What are the other fundraising preferences for Takaful operators and how can Takaful Sukuk make the strategic fit?
• What expertise (knowledge/skills) is required to develop the asset class?
Panel members:
• Sohail Jaffer, Deputy CEO, FWU Group.
• Gautam Datta, CEO, National Takaful Company (Watania) PJSC.
• Safder Jaffer, Managing Director & Consulting Actuary, Middle East & Africa, Milliman.
• Muhammad Nasir Ali Syed, CEO, Pak-Qatar Family Takaful.
• Abhijit Singh, Head of Assets Management & Investment, Solidarity Group Holding Company.
75 Min
Group discussion 15 Min
13:00 – 14:30 Prayers and lunch break
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Deloitte and IRTI-IDB Group executive workshop
Time Topics Proposed time
14:30 – 16:00 Session 3 – Sharia’, risk, legal and rating considerations
Session objective:
• Address key Sharia’ concerns, legal, tax, and rating considerations.
Moderator:
• Dr. Osman Ahmed, Lead Economist, IRTI-IDB Group.
Key discussion points:
• The key Sharia’ and legal concerns in developing Takaful Sukuk issuances.
• How can key Takaful operators balance Sharia’ compliance with industry priorities for innovation and growth?
• What other industry specifics may help or hinder the growth of the Takaful Sukuk market? How might credit risk,
rating and guarantees nurture growth?
• What are the key industry functional issues which help drive standardization, scale and market efficiency?
• What are the key challenges of financial reporting and good disclosure practices?
Panel members:
• Sheikh Esam Ishaq, Sharia’ Advisor and Scholar, Bahrain.
• Dr. Hamed Hassan Merah, Secretary General, AAOIFI.
• Ijlal Alvi, CEO, the International Islamic Finance Market (IIFM).
• Mohammed Ali Londe, AVP-Analyst, EMEA Insurance Moody Investors Service Middle East Limited.
• Sabeen Saleem, CEO, Islamic International Rating Agency (IIRA).
75 Min
Group discussion 15 Min
16:00 – 16:30 Concluding remarks 30 Min
End of the program
Disclaimer: Please be advised that the above agenda points are tentative and that Deloitte and IRTI-IDB Group reserve the right to make any necessary
amendments/changes to the program without prior notification.
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Deloitte and IRTI-IDB Group executive workshop
Participant 1
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Participant 2
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Participant 3
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When and where
Sunday, May 14, 2017, 8:00 -16:30
Al Baraka Banking Group (ABG)
Headquarter, Bahrain Bay
Your investment
There is no fee required to attend
the workshop.
To register
Registration form
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Deloitte is looking forward to welcomingyou at the Al Baraka Banking Group,Manama, Bahrain on May 14, 2017
