In an industry-first initiative, The World Takaful Report will be launched at the third annual World Takaful Conference (WTC) to be held in Dubai on 14 and 15 of April 2008.
Providing unique insights into the emerging and dynamic market for Islamic insurance, the report written and compiled by Ernst & Young’s Islamic Financial Services Group (IFSG), is “essential reading for anyone connected with the Takaful industry and the wider Islamic financial services”, according to Sameer Abdi, partner in charge and head of the Group.
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) Mr. Nasser Alshaali, who will deliver the opening keynote address in the event noted that “The global Takaful market is expected to grow by some 15 to 20per cent per annum to reach USD 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.”
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. Speaking about the event Mr. Muqeem Mohammed, CEO of HSBC Amanah Takaful said: “The World Takaful Conference is one of the very few events in its category that is highly focused on business issues facing the industry and continues to excel in both substance and depth”.
The conference is again being hosted in strategic partnership with Dubai International Financial Centre (DIFC) and features industry leaders such as HSBC Amanah Takaful and Salama Islamic Arab Insurance Co (Salama) as Platinum sponsors. In addition, other international market leaders partnering with the 3rd Annual World Takaful Conference include 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.
The event will provide practical insights into the next development phase of this dynamic industry. Moreover, key questions that will be answered during the conference sessions include the following topics: • Pinpointing new growth opportunities in key international markets and Takaful segments; • Assessing the international development of innovative Takaful solutions;• Successfully engaging conventional insurance players by Takaful operators;• Mapping the future development of the Re-Takaful market;• Exploring Bancassurance models to provide opportunities for launching Takaful products to markets more efficiently.
Finally, the event will be addressed by a distinguished faculty of international and regional speakers with the structure of the conference enabling interactive discussions on the development of the industry with more than 200 international delegates.
-Ends-For more information about The World Takaful Conference visit www.megaevents.net/wtc .
`Sharon PereiraSharon@matrixdubai.com 
MEGA is the market leading business information firm focused on achieving business results for the Islamic banking & finance industry since 1993. The portfolio of MEGA brands represents the landmark industry conferences and our clients are the leading players in the international financial markets.