Islamic Finance

Takaful Stakeholders Meet In London To Discuss The Rapidly Evolving Islamic Insurance Sector

| 14 May, 2018

14 May 2018 - The 12th International Takaful Summit will be held in London from 10-11 July 2018. For over a decade now the Summits have served as a cornerstone and leading thought forum of the industry. This year’s event will be one of the most significant gatherings to date in light of the ever-changing geopolitical climate.

With the UK still coming to grips with the Brexit vote, there has been a concerted effort by the insurance industry to look further afield to leverage its expertise in serving emerging markets. This is positioning London as a hub for Takaful. The conference will be a platform to discuss how the global Islamic insurance sector can utilise London’s insurance market capacity in order to drive growth.

‘The International Takaful Summit has always been a place where the world’s leading practitioners come to find out what the latest trends are in the market as well as discuss the challenges they are facing in order to leave with tangible strategies to improve developments and launch innovations in their home countries. This year we aim to make this the most comprehensive instalment in order to accelerate the growth of the industry,’ commented M Iqbal Asaria, Lead Manager for the ITS at the Afkar Group. He added, ‘there is rapid growth in Malaysia, however with the exception of Saudi Arabia, the Middle East has lagged the growth of contributions. We will seek to identify the causes of this inertia and discuss how to overcome the obstacles’.

In addition to the challenges specific to Takaful companies such as low penetration rates, distribution channels, suitable investment vehicles and the lack of qualified practitioners, the conference this year will discuss a number of operational issues that are affecting global business such as cyber security, digital disruption, data analytics and the use of robotics to reduce costs.

For this year’s Summit, we plan to introduce a comprehensive look at the role of Takaful in creating financial inclusion. With the increase in involvement from development agencies, this much neglected area of Takaful is now ripe for exploration.

The International Takaful Summit will also feature the International Takaful Awards. We will celebrate the 11th anniversary of these Awards which still remain the only dedicated awards ceremony for the Takaful industry. ‘The gala awards ceremony, which is the social highlight of the Summit will take place on the evening of 10th July and is sure to be an eventful occasion celebrating outstanding achievement and innovation in the global takaful industry’, added Ms Randa Buaras, Conference Director.

The International Takaful Summit will be held from 10-11 July 2018 at the Millennium Gloucester Hotel London, Kensington.

More information about the event can be found at www.takafulsummit.com

Summit Sponsors include: Alahli Takaful, Hannover Retakaful, Norton Rose Fulbright LLP, Africa Retakaful, General Takaful, AM Best, Takaful Brunei, Qatar Islamic Insurance Company, Egyptian Takaful, International Underwriting Association of London and Lloyd’s.

Summit Supporters and Media Partners include: International Federation of Takaful & Islamic Insurance Companies (IFTI), Federation of Afro-Asian Insurers & Reinsurers F.A.I.R, International Islamic Finance and Insurance Institute (IIFII), Institute of Islamic Banking and
Insurance (IIBI), AlHuda Center of Islamic Banking and Economics, Middle East Insurance Review, ICMIF, True Banking Magazine, Al Bayan Magazine, Al Morakeb Al Inmai, Pakistan Observer, Micro Insurance Network and Islam Channel.

For sponsorship opportunities or further information please contact:
Randa Buaras
Conference Director
info@takafulsummit.com
Telephone: +44 (0)208 861 5324

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