Kuala Lumpur, May 16, 2014 – The International Shari’ah Research Academy for Islamic Finance (ISRA) with the collaboration of Malaysian Takaful Association (MTA) organized the ISRA-MTA Takaful Thematic Workshop on research titled, “Takaful Benefit Protection System from Shariah Perspectives” at Lanai Kijang, Bank Negara Malaysia,

The main objective of the workshop was to gather key personnel of various takaful operators and regulators to discuss the main findings and results of the research, whose main focus is to revisit the current practice of takaful benefit protection system and proposing an alternative model for takaful benefit protection system.

The workshop was well attended by various levels of practitioners, ranging from chief executive officers (CEOs) to heads of Shariah departments and Actuaries of local and international takaful operators. Representatives from Bank Negara Malaysia (BNM) and Perbadanan Insurans Deposit Malaysia (PIDM) also attended the event.

The workshop commenced with a du’a recitation followed by welcoming remarks from Prof. Dr Mohamad Akram Laldin, Executive Director, ISRA. The first presentation was delivered by Ustaz Mohd Helmi Ahmad representing the MTA members. Ustaz Mohd Helmi highlighted the issue and challenges of the current takaful benefit protection system. Subsequently, the second presentation delivered by Dr Sa’id Adekunle Mikail and Ustaz Muhammad Ali Jinnah Ahmad from ISRA, who analyzed the concept of takaful benefit protection system and proposed an alternative model. An interactive panel discussion session moderated by Tn Haji Mohd Tarmidzi Ahmad Nordin, the ex-CEO of Etiqa Takaful, took place. The expert panellists who constructively deliberated on the topic are as follows:

• Assoc. Prof Dr Younes Soualhi, IIUM
• Assoc. Prof Dr Azman Mohd Noor, IIUM
• Ustaz Mohd Khairul Daim, AIA Public Takaful

The workshop ended with closing remarks from Tn Haji Ab Latiff Abu Bakar, President & Chief Executive Officer Takaful Ikhlas Sdn Bhd, who emphasized the significance of cooperation among takaful stakeholders and the maintained the spirit of tabarru’ and solidarity in the takaful industry.