Press Release
CII to introduce Takaful module in the UK
14 April 2008
The CII Group continues its partnership with the Bahrain Institute of Banking and Finance (BIBF) by accrediting the programme on Takaful (Islamic) insurance recently launched by the BIBF and announcing that the new qualification will be available in the UK by September 2008.
“The Takaful sector is quickly establishing itself as a key component in the industry - not just in the Middle East but throughout the world - and the CII is delighted to be part of this exciting project,” said Lee Gladwell, director of general insurance for the CII. “We aim to have all the learning materials in place and available for UK applications by the beginning of September and successful examinees will receive an internationally recognised certificate.”
The programme will cover key topics, such as Shari’a practice and perspective, comparative analysis between conventional and Takaful companies, accounting standards for Takaful, surplus and loss distribution, structure and operations of Islamic insurance companies, as well as family and general Takaful products.
The programme has been developed by seven top academic and professional experts from around the world and the BIBF plans to publish an Arabic version of the textbook. In addition, there are plans to develop a series of textbooks and training programs in the different areas of Takaful, such as Islamic Accounting Standards for Takaful operators.
Mark Greenwood, head of regional business for the CII in the Middle East said: “We are proud to be working with the BIBF, which is seen as the leading provider of Islamic finance and insurance training programs throughout the Middle East and, by combining our experience and resources with their expertise, we will jointly be able to offer a vital addition to the further development of the Takaful market.”
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