On course for success



Takaful is and alternative concept to the conventional insurance that the Shari’ah prohibits it because it contains substantial uncertainty (gharar), features of gambling and riba. Ensuring Shri’ah compliant aspect in takaful operation is imperative for takaful company to maintain the confidence leve of stakeholders and public at large. Inadequate attention to the whole process of Shariah compliant aspect will trigger negative repercussion to takaful industry. Understanding Shariah compliance framework, review and audit is essential to ensure that the overall business operations are in compliance with the Shari’ah principles. The 2 days course is designed to provide the participants with a comprehensive and practical understanding on Shari’ah compliant aspect in Takaful alongside its key review and audit areas.


After completing this session, participants should be able to:

  • Understand the significance of Shariah compliant in takaful
  • Understand the key legal and regulatory framework for takaful products
  • Understand the various takaful models and their evolution
  • Understand the key Shariah issues in the takaful models
  • Comprehend the nature of risk and risk management processes in takaful
  • Understand the key review and auditable area for takaful

Course Outline

  • Overview of takaful concept
  • Development of takaful industry
  • Legal and regulatory aspects of takaful
  • Underlying contracts in takaful
  • Various takaful models
  • The evolution of takaful models
  • Shari’ah issues in takaful models
  • Shari’ah non-compliant risk management for takaful
  • Key review and audit area in takaful operation
  • Shairi’ah audit program for takaful
  • Dealing with shari’ah non-compliant events in takaful
  • Managing shari’ah non-compliant events in takaful
  • Issues and challlenges of takaful industry

Target of Participants

  • Board of Directors
  • Shariah Committee Members
  • Shari’ah Department
  • Shari’ah Audit Department
  • Shari’ah Review Department
  • Legal and Risk Department
  • Takaful and Retakaful Operators
  • Legal and Compliant Department
  • Advocates and Solicitors
  • Lecturers and Students

Trainer’s Profile


Dr Mohammad Mahbubi Ali is a research fellow at the International Institute of Advanced Islamic Studies (IAIS) Malaysia. He also serves as a Shariah committee member of Affin Islamic Bank, Shariah consultant for ZICO Shariah Advisory Bhd and Roosdiono & Partners. Previously, he was a researcher at the International Shari’ah Research Academy for Islamic Finance (ISRA). During his stint at ISRA, he had contributed to numerous ISRA’s research publications, mainly involving in Central Bank of Malaysia’s Shari’ah Standards. He was a lecturer at the University of Kuala Lumpur and Unitar International University. In his young age, he has managed to contribute extensively to Islamic finance through his regular writings featured in the Islamic Finance News (IFN), Business Islamica, The General Council for Islamic Banks and Financial Institutions (CIBAFI), Epicentre and many others.

He has published numerous articles in international and local referred academic journals, written several book chapters and presented a number of papers in various international conferences. His paper entitled: “A Framework of Income Purification for Islamic Financial Institutions,” co-authored with Dato’ Dr. Asyraf Wajdi Dusuki and Lokmanulhakim Hussain, was conferred best paper presentation in Sharia Economics Conference, University of Hannover, Germany, 2013. He received a bachelor degree in Shari’ah Business and Financial Management from Islamic Business School, Tazkia Indonesia, Chartered Islamic Finance Professional (CIFP) from INCEIF, The Global University in Islamic Finance, Malaysia and PhD in Islamic Banking and Finance from the IIUM Institute of Islamic Banking and Finance, Malaysia.

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