Certificate in Takaful
Certificate in Takaful - Institute of Islamic Banking and Insurance
Certificate in Takaful - Institute of Islamic Banking and Insurance
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The Challenge<br />
It is well known that Islam rejects the<br />
<strong>in</strong>stitution of riba (<strong>in</strong>terest) and gharar<br />
(as <strong>in</strong> excessive uncerta<strong>in</strong>ty) and maysir<br />
(gambl<strong>in</strong>g) and considers these as unjust<br />
and exploitative. These have been abstract<br />
and highly profound concepts that are<br />
be<strong>in</strong>g translated <strong>in</strong>to concrete and operative<br />
<strong>in</strong>struments and laws offer<strong>in</strong>g an alternative<br />
f<strong>in</strong>ancial system. It is important to study all<br />
these concepts <strong>in</strong> depth and also implement<br />
them fully and ungrudg<strong>in</strong>gly <strong>in</strong> all f<strong>in</strong>ancial<br />
deal<strong>in</strong>gs.<br />
For your own sake, accept anyth<strong>in</strong>g good<br />
wherever you f<strong>in</strong>d it. Do not stick to<br />
stereotyped philosophies.<br />
Muazzam Ali, Founder & Chairman IIBI<br />
Islamic <strong>in</strong>surance, takaful, is emerg<strong>in</strong>g as a<br />
viable alternative to conventional <strong>in</strong>surance as<br />
it provides <strong>in</strong>surance coverage for commercial<br />
risks as well as a wide range of family and<br />
sav<strong>in</strong>gs products that are competitive and more<br />
importantly compliant with Shari’ah pr<strong>in</strong>ciples.<br />
It offers attraction to non-Muslim <strong>in</strong>vestors due to<br />
its ethical values. <strong>Takaful</strong> has greater potential<br />
to grow alongside Islamic bank<strong>in</strong>g.<br />
F<strong>in</strong>ally ……<br />
It goes without say<strong>in</strong>g that <strong>in</strong> any<br />
organisation, f<strong>in</strong>ancial or otherwise, the<br />
human factor is the most important by far.<br />
At IIBI we are very proud to be contribut<strong>in</strong>g<br />
to the cont<strong>in</strong>u<strong>in</strong>g development of staff to<br />
give them the very best understand<strong>in</strong>g and<br />
knowledge <strong>in</strong> key areas of operations <strong>in</strong><br />
Islamic bank<strong>in</strong>g and takaful.<br />
“Help ye one another <strong>in</strong><br />
righteousness and piety...”<br />
5:2 The Holy Qur’an<br />
Institute of Islamic Bank<strong>in</strong>g and Insurance<br />
London, United K<strong>in</strong>gdom.<br />
T: + 44 (0)20 7245 0404<br />
F: +44 (0)20 7245 9769<br />
E: iibi@islamic-bank<strong>in</strong>g.com<br />
www.islamic-bank<strong>in</strong>g.com<br />
ILM – Knowledge<br />
“O my Lord! Increase me <strong>in</strong> knowledge”<br />
(The Qur’an, 20:114)