Takaful poised for big growth
Dubai, May 19, 2013
The global takaful industry has witnessed tremendous growth in the last decade, rapidly becoming an increasingly important component of the Sharia-compliant banking and finance system, said a report.
South East Asia, particularly Malaysia, has become a key centre of this dynamic and vibrant industry and, according to reports by Bank Negara Malaysia, the takaful industry experienced a compound average growth rate of 27 per cent in terms of net contributions between 2005 and 2010, reported the Gulf Daily News, our sister publication.
Given the large untapped market that still exists, the takaful industry in Malaysia is poised to benefit in the years ahead on the back of steady demand. Similarly other key markets in South East Asia, such as Indonesia and Brunei, are also rapidly emerging as important takaful markets.
Considering the exciting opportunities outlined for the takaful industry in Asia, the Second Annual World Takaful Conference: Asia Leaders Summit, through its unique format backed by original research insights and industry analysis, will gather senior executives in the Asian takaful industry in a focused environment to discuss and debate the way forward for the regional takaful industry.
It is an innovative and interactive high-level summit that builds on the successful eight years of history of the World Takaful Conference: Global, which gathers more than 400 senior executives from across the world in Dubai each year.
The format of the conference uniquely utilises the latest research from various original research reports, including the Global Family Takaful Report 2013 and the World Islamic Insurance Directory 2013, launched recently at the 8th Annual World Takaful Conference: Global Summit in Dubai.
To be held under the theme "Competing for Growth and Profitability: Fresh Thinking and New Research Insights for Takaful Players in Asia," this year's conference will channel the findings of these unique research-based reports and will outline the big picture industry changing scenarios and seek to tackle the critical issues facing the takaful industry in Asia.
More than 20 high-profile speakers have already confirmed their participation at the event.
They include Amana Takaful Group executive director Ehsan Zaheed, Aberdeen Islamic Asset Management chief executive Gerald Ambrose and Ernst and Young Malaysia partner and assurance and insurance leader Brandon Bruce Sta Maria.-Reuters