Scribd Logo
Загрузить

Добро пожаловать в Scribd!

  • Micro Takaful by Capt. Jamil Ahmed

    Загружено:

    AlHuda Centre of Islamic Banking & Economics (CIBE)
    110 просмотров27 страниц
    Microtakaful defined: "a mechanism to provide Shariah-based protection to the blue collar, under-privileged individuals at an affordable cost" only 3% of poor lives are insured in india and china. Only 0.3% of the poor are insured in Africa. In 23 of the poorest 100 countries in the world, there is currently no identified micro insurance activity.

    Исходное описание:

    Авторское право

    © Attribution Non-Commercial (BY-NC)

    Доступные форматы

    PPTX, PDF, TXT или читайте онлайн в Scribd

    Этот документ был вам полезен?

    Это неприемлемый материал?

    Пожаловаться на этот документ
    Microtakaful defined: "a mechanism to provide Shariah-based protection to the blue collar, under-privileged individuals at an affordable cost" only 3% of poor lives are insured in india and china. Only 0.3% of the poor are insured in Africa. In 23 of the poorest 100 countries in the world, there is currently no identified micro insurance activity.

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PPTX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    110 просмотров27 страниц

    Micro Takaful by Capt. Jamil Ahmed

    Загружено:

    AlHuda Centre of Islamic Banking & Economics (CIBE)
    Microtakaful defined: "a mechanism to provide Shariah-based protection to the blue collar, under-privileged individuals at an affordable cost" only 3% of poor lives are insured in india and china. Only 0.3% of the poor are insured in Africa. In 23 of the poorest 100 countries in the world, there is currently no identified micro insurance activity.

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PPTX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 27

    International Conference on Islamic Microfinance

    Organized By :

    CENTER OF ISLAMIC BANKING & ECNOMICS

    Held At:

    Faisal Auditorium Islamabad - Pakistan

    MicroTakaful the way forward

    Presented by:

    Capt. M. Jamil Akhtar Khan


    ACII, MCIT, Master Mariner

    Managing Director
    THE UNIVERSAL INSURANCE COMPANY LTD.

    Contents
    Introduction MicroTakaful defined MicroTakaful schemes in other countries Prospects in Pakistan Incremental values The Takaful advantage The way forward Conclusion

    Introduction
    Micro-insurance defined: Risk-pooling products that
    are designed to be appropriate for the low-income market in relation to cost, terms, coverage, and delivery mechanisms.

    MicroTakaful refined: A
    mechanism to provide Shariah-based protection to the blue collared, under-privileged individuals at an affordable cost.

    Introduction Contd.
    Microfinance can help people improve. Microtakaful will help them sustain their financial well being. Feeling of togetherness & security. Opens avenues for joint efforts for mutual benefits. Cooperative approach and outlook. Result migration of individual level. Society benefits at large.

    Global Landscape
    Only eighty million out of the world's 2.5 billion poor are currently covered by some form of micro insurance.

    Only 3% of poor lives are insured in India and China.

    Only 0.3% of the poor are insured in Africa. In 23 of the poorest 100 countries in the world, there is currently no identified micro insurance activity.

    Prospects in Pakistan
    Serious efforts at national level only picked up during the last decade. Advent of Microfinance banks. Large rural/urban divide (65% : 35%) 40% population below poverty level. Scope for extensive work. Mushroom growth of NGOs.

    Prospects in Pakistan (Contd. )


    Governments initiatives Rural support programs. SMEDA. Financial Support from ADB, WB, etc. State Banks initiative 20% branches of commercial banks required in rural areas. Agriculture/Crop & Livestock Finance and Takaful. Benefit of economies of scale to make these viable ventures.

    Potential areas of action


    Construction of a House Marriage

    Importance of Risk/Economic Stress

    Death Prolonged Illness

    Education of Children

    Business Failure/Loss of Job

    Birth of Children

    The Takaful Advantage


    they seemed satisfied with the convenience and affordability of the policy, but some thought that the premium should be reimbursed if they do not file a claim.
    Excerpt from The Demand for Micro insurance in Pakistan by ELIZABETH MCGUINNESS AND VOLODYMYR TOUNYTSKY MARCH 2006

    The Takaful Advantage


    Share Holder

    SHARE

    H O L D E R S

    F U N D (S.H.F.)

    Wakalah Fee

    Mudaribs Share of PTFs Investment IncomeExpense of Management Investment the Company Income

    Profit/Loss

    Takaful Operator Investment by the Company

    WAQF

    Operational Cost of Takaful / ReTakaful Investment Income

    Claims & Reserves

    Surplus (Balance)

    P A R T I C I P A N T S T A K A F U L F U N D (P.T.F.)
    Participant

    The way forward

    ????? NO THEN

    The way forward


    Tax incentives Goodwill Awareness Extensive documentation Distribution channels Strategic alliances Incentives & Awards Setting up a dedicated micro-Takaful company!

    The way forward (Contd. )


    Setting up a dedicated micro-Takaful company!
    Initiative by DFIs, NGOs, and other interested investors. Ideal synergies with micro-finance institutions and other lending organizations. Govt. to prescribe lower paid-up capital. Managed by dedicated professionals.

    Current scenario

    What is required?

    Where there is will, there is a way!

    Thank You

    CENTER OF ISLAMIC BANKING & ECNOMICS Head Office: 192- Ahmad Block, New Garden Town , Lahore, Pakistan Ph: +92-42-35913096-8, 35858990, 38407850 Fax: +92 -42-35913056 E-mail : info@alhudacibe.com Web: http://www.alhudacibe.com

    Вам также может понравиться