Shari’ah Issues in Retakaful Industry
Presented by
Prof. Dr Ashraf bin Md. Hashim
CEO, ISRA Consultancy
@ International Research Academy for Islamic Finance
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Member, Shari’ah Advisory Council of Central Bank Malaysia
Member, Shari’ah Advisory Council, Securities Commission Malaysia
Chairman, Shari’ah Committee, Bursa Malaysia (Malaysia Exchange House)
Member, National Fatwa Council, Malaysia
Member, IFSB Working Group on Retakaful
Deputy President, ASAS
Among Issues Within the Retakaful Industry
a) Business model for different types of retakaful- complicated
b) Acceptance of non-Shariah-compliant business
c) Governance and conflict of interest
d) Shari’ah Governance
e) Co-insurance with conventional insurers
f) Retrotakaful
g) Commission
h) Financial Retakaful (Finite Ritakaful)
i) Capital, qard and prudential regulation
j) Transparency and disclosure
k) Retakaful windows
THANK YOU
WASSALAM
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