Dubai: The much-anticipated 6th Global Takaful & Re-Takaful Forum is taking place today in Dubai, UAE. This prestigious international event will explore innovative risk management and financial inclusion strategies to pave the way for financial and economic solutions within the Takaful and Re-Takaful sectors.

The forum, sponsored by prestigious organizations like the National Insurance Authority of Somaliland, Somaliland Banking Association, Islamic Finance Research Institute—Ghana, and Al-Barakah Multi-purpose Cooperative Society Limited, focuses on crucial topics influencing the future of Takaful and Re-Takaful.

Key discussion points include the development of robust regulations and supervision for the Takaful and Re-Takaful industries, covering aspects such as clear guidelines for product development, risk management, and governance to ensure their integrity and sustainability. The forum also emphasizes the significance of upholding Islamic principles in Takaful and Re-Takaful operations. This involves ensuring that all products and services comply with Shariah law and maintain the ethical foundation of these industries. Additionally, insights are shared on exploring new investment avenues and innovative financial products within the Takaful and Re-Takaful landscape. This encompasses discussions on emerging trends, technological advancements, and opportunities for product diversification. Lastly, the forum analyzes the latest trends and challenges facing the global Takaful and Re-Takaful market, including market competition, regulatory changes, and technological disruptions that are shaping the industry's future.

The event brings together representatives and distinguished speakers from over 15 countries. It focuses on fostering collaboration to create regulations and frameworks that enable seamless operations and growth in the Takaful and Re-Takaful sectors. Key discussions cover Banca-Takaful, Micro-Takaful, and Re-Takaful, highlighting their relevance in today’s financial industry.

Mr. Muhammad Zubair Mughal, CEO of AlHuda CIBE – UAE, has emphasized the rapid global growth of Islamic finance. He noted that Islamic finance is being embraced in both Muslim-majority and non-Muslim countries. He reiterated that AlHuda CIBE has been promoting Islamic finance worldwide through training, advisory, and research services since 2006, with ongoing projects in countries such as Uzbekistan, Tanzania, Somaliland, and South Africa.

At the event, three distinguished ambassadors, Mohamad Hussain Sherif from the Republic of Maldives, Mohammed Abu Zafar from Bangladesh, and Ali Zeb Khan from Pakistan, took the opportunity to commend the significant contributions being made in the Takaful industry. They recognized the ongoing efforts to promote and strengthen Islamic banking, particularly highlighting how the sector has shown consistent growth. The ambassadors noted that Islamic banking is thriving and appreciated the advancements being made to enhance its reach and impact. Their positive remarks reflected optimism for the future of Takaful and Islamic finance, expressing confidence that these developments will continue to play an essential role in the global financial landscape.

Following today's forum, a post-event workshop held from September 10-11, 2024, focusing on operational aspects of Takaful, Re-Takaful, Banca-Takaful, and Micro-Takaful. This workshop  offer valuable insights for industry professionals.

About AlHuda CIBE

AlHuda Center of Islamic Banking and Economics (CIBE) is a well-recognized name in the Islamic banking and finance industry. It provides research and state-of-the-art advisory, consultancy, and education through various platforms. AlHuda CIBE has been serving the community for over 12 years, delivering services in over 35 countries to develop Islamic banking and finance. For more information, please visit www.alhudacibe.com.

For Media Contact:
Ms. Shaguftta Perveen
Manager Communications
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