In an industry-first initiative, the World Takaful Report will be unveiled at the third annual World Takaful Conference (WTC) to be held in Dubai from April 14 to 15.
The report written and compiled by Ernst & Young’s Islamic Financial Services Group (IFSG) will provide unique insights into the emerging and dynamic market for Islamic insurance, said a takaful expert.
‘It is essential reading for anyone connected with the Takaful industry and the wider Islamic financial services,” said Sameer Abdi, partner in charge and head of the IFSG.
Islamic Insurance is now big business globally and experts are predicting unprecedented growth over the next few years.
“The inaugural World Takaful Report includes an overview of this rapidly growing industry. It identifies established and potential growth markets and offers an in-depth view of the competitive landscape. The report also includes a range of entry strategies which outline the ways in which prospective institutions might break into this market”, Abdi said.
The report is to be exclusively launched at the third WTC where more than 200 industry leaders from around the world’s key financial centres will focus on the conference theme of expanding the International Market for Islamic Insurance: Product Innovation and New Growth Opportunities.
The CEO of Dubai International Financial Centre Authority (DIFCA) Nasser Alshaali, who will deliver the opening keynote address in the event said the global Takaful market was poised to grow by some 15 to 20 per cent per annum to touch $7.4 billion in annual contributions by 2015.
‘As the region’s leading international financial centre, the DIFC is focused on the development and innovation of products and services to augment the financial instruments already available within the region. Takaful looks set to become an integral component of the region’s financial offering,’ he noted.
The third WTC offers a great platform for the launch of this report not only because of its location at the hub of Takaful market, but also because since the launch of the conference three years ago it has continued to offer highly focused and informative business solutions for the industry, he added.
Muqeem Mohammed, CEO of HSBC Amanah Takaful said the conference was one of the very few events in its category that was highly focused on business issues facing the industry and continues to excel in both substance and depth.
The two-day event is being hosted in strategic partnership with DIFC and features industry leaders such as HSBC Amanah Takaful and Salama Islamic Arab Insurance Co (Salama) as platinum sponsors.
In addition, global giants including Solidarity, Takaful Re, Ernst & Young, FWU International, British Islamic Insurance Holdings (BIIH), Calyx Financial, Amana Takaful Insurance, Abu Dhabi National Takaful Company, AM Best, 3i Infotech, Sheikan Insurance & Re-insurance, and Norton Rose will also support the event.-TradeArabia News Service
Source: http://www.tradearabia.com/news/BANK_141018.html
