https://www.hodhood.com/en/index.php?action=history&feed=atom&title=Technical_Aspects_of_Takaful_By_Azman_Ismail 2026-06-02T13:38:34Z Revision history for this page on the wiki MediaWiki 1.27.1 https://www.hodhood.com/en/index.php?title=Technical_Aspects_of_Takaful_By_Azman_Ismail&diff=578&oldid=prev 2016-09-17T13:48:04Z

<p>Imported from text file</p> <p><b>New page</b></p><div> Business Operatio<br /> <br /> Proposal for Enhance<br /> <br /> Azma<br /> <br /> HIJRAH Strategic Advisor<br /> <br /> Tel : 603-42<br /> <br /> Fax : 603-42<br /> <br /> Email : azman.hijrah@em<br /> <br /> azmanwong@ya<br /> <br /> <br /> Shariah<br /> <br /> Surplus Legal I<br /> <br /> Reserving Acco<br /> <br /> Pricing Shariah<br /> <br /> Retakaful<br /> <br /> <br /> Takaful Practitioners technically<br /> <br /> “incompetent” when it comes to sha<br /> <br /> issues.<br /> <br /> Reflect the state mentioned by Abd<br /> <br /> Qadir Audah<br /> <br /> The need for practitioners to be<br /> <br /> ‘technically’ competent in both shari<br /> <br /> insurance knowledge<br /> <br /> <br /> Application/Proposal Forms<br /> <br /> Policy/Certificate Wordings<br /> <br /> Accounting of Premiums/Contributio<br /> <br /> Claims &amp; Retakaful (Additional<br /> <br /> discussions on accounting and reta<br /> <br /> Surplus distribution – shariah issue<br /> <br /> <br /> Employ more shariah graduates<br /> <br /> Expose practitioners to usul fiqh, qa<br /> <br /> fiqhiyah &amp; fiqh muamalah<br /> <br /> Shariah scholars given allowance to<br /> <br /> at least once a week<br /> <br /> <br /> Not all countries have legal infrastru<br /> <br /> Those countries that have legal<br /> <br /> infrastructure – conflicts between<br /> <br /> legislations<br /> <br /> Gap between legislators, supervisor<br /> <br /> players<br /> <br /> <br /> Legal infrastructure for Muslim coun<br /> <br /> acts of parliament, decrees, DG<br /> <br /> guidelines,<br /> <br /> Committee for legal reforms – to es<br /> <br /> and enhance takaful position<br /> <br /> Common ombudsman – e.g. IFSB e<br /> <br /> <br /> Contribution<br /> <br /> Claims/Reserves<br /> <br /> Surplus<br /> <br /> <br /> Cash/Accrual Issues<br /> <br /> Late payment issues<br /> <br /> Agency/collection issues<br /> <br /> Contribution Warranty Issues<br /> <br /> <br /> Unearned/Unexpired risks<br /> <br /> IBNR (including IBNYR, IBNER)<br /> <br /> Valuation Reserves<br /> <br /> <br /> Accounting Standards – AAOIFI ba<br /> <br /> Standard Contractual Model<br /> <br /> Financial Models<br /> <br /> <br /> Lacking In Takaful<br /> <br /> Parallel To Conventional Audit<br /> <br /> Areas of Audit<br /> <br /> <br /> Combine shariah &amp; technical perso<br /> <br /> conduct regular audit<br /> <br /> Develop audit standards &amp; instrume<br /> <br /> Make it compulsory on operators<br /> <br /> Training for shariah auditors<br /> <br /> <br /> Retakaful Programming<br /> <br /> {Shariah Considerations<br /> <br /> zHolding company is conventional insurance<br /> <br /> zCo-takaful – among operator &amp; with conven<br /> <br /> {Retention<br /> <br /> zBetween shariah &amp; business considerations<br /> <br /> {Structure<br /> <br /> <br /> Retakaful Pool Beyond Geographic<br /> <br /> Groupings<br /> <br /> Strong Technical Retakaful Operato<br /> <br /> Strategic Partnership With Reinsure<br /> <br /> Transfer of Appropriate Technology<br /> <br /> <br /> “Scientific” approach<br /> <br /> General takaful – actuarial input<br /> <br /> Pricing factors<br /> <br /> “Image”<br /> <br /> Compilation &amp; coordination of data <br /> <br /> operators<br /> <br /> <br /> Conventional reserving methods for<br /> <br /> general insurance<br /> <br /> {May elect to choose most suitable base<br /> <br /> shariah considerations<br /> <br /> Conventional reserving methods for<br /> <br /> insurance<br /> <br /> {Most may be suitable from shariah angl<br /> <br /> {Based on legal maxims<br /> <br /> <br /> Pure Mudharabah Model<br /> <br /> Modified Mudharabah Model<br /> <br /> Basic Wakalah Model<br /> <br /> Wakalah-Jualah Model</div>

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