Principles of Takaful (595) (Arabic) provides knowledge and understanding of how and why Takaful operates as an Islamic variant of insurance; the technical and operational aspects of Takaful; and the role of Takaful in the global marketplace.
The default Enrolment option for this unit includes:
- Latest version of the core learning content, in digital format only.
- Assessment entry.
Principles of Takaful (595) (Arabic) is designed to support the reader in developing a practical and technical understanding of providing risk mitigation in a way which accords with the beliefs of Muslims. This introduction to Takaful (Islamic insurance) will be useful both for professionals working within Takaful operations and for insurance professionals seeking to expand their horizon beyond conventional models.
This study text does not assume any prior knowledge of insurance or Takaful. Insurance terminology and practices are explained and then used to lead the student to appreciate the nuances of Takaful provision within the practices of insurance provision. Once this basic framework is established, the study text outlines the specific characteristics and practices of Takaful provision. This leads to an exploration of the regulatory, governance and sustainability features of Takaful companies.
Building a successful career in insurance
This study text provides a sound working knowledge to the general insurance practitioner and a stepping stone for those intending to engage further with the Takaful market and its business and career opportunities.
Summary of learning outcomes
- Understand the purpose and key concepts of insurance.
- Understand key Shariah concepts relevant to financial practice.
- Understand how and why Takaful differs from conventional insurance provision.
- Understand how Takaful models operate.
- Understand the role of retakaful.
- Apply appropriate financial practices to a Takaful operation.
- Discuss the operational and market challenges and opportunities for Takaful.
- 3-hour exam comprising eight compulsory short answer questions, one case study question and three essay questions from a choice of five.
- 55% nominal pass mark
Study material - editions available
Applicable to April and October exams within a 12-month enrolment period.