The Bahrain Institute of Banking and Finance (BIBF) has launched a unique programme on takaful accredited by UK's Chartered Insurance Institute (CII).

"The new programme on takaful will be offered this year with the first exam to be conducted in October," said BIBF head of the centre of insurance Husain Al Ajmi.

"The institute is in the process of developing the course work, in conjunction with the CII, the largest and most influential insurance training and educational body worldwide. It currently has over 90,000 members and provides a suite of insurance and financial planning qualifications".

The BIBF is host to the CII Academy @ BIBF, which was launched earlier this year in partnership with the CII.

The CII academy at the BIBF is the exclusive training provider for CII courses in the Middle East and also houses the first online examination centre for the CII outside the UK.

"The new takaful programme will culminate in an internationally recognised certification, which is the reason we are working with the CII in developing the course work," he said.

The programme will cover key topics, such as Sharia practice and perspective, comparative analysis between conventional and takaful companies, accounting standards for takaful, surplus and loss distribution, structure and operations of Islamic insurance companies, as well as family and general takaful products.

The textbook for the programme is being developed by seven top academic and professional experts from around the world.

The BIBF plans, in future, to develop an Arabic version of the textbook.

"We are proud to be affiliated with such world-class organisation as BIBF that possess superior quality programs and offerings in the insurance and Islamic finance industry," said CII director general Lee Gladwell.

"We hope that this partnership will further assist in fostering the growth of the Islamic insurance industry in the region."-TradeArabia News Service