Takaful seminar held in Istanbul

Source: Middle East Insurance Review | Nov 2015

A one-day takaful seminar was held on 15 September at Cigaran Palace Kempinski, Istanbul.

Mr Gokhan Karasu, Acting General Director, Undersecretariat of Treasury and General Directorate of Insurance gave the opening speech. Other speakers included Allama Dr Abdul Sattar Abou Ghuddah, President and General Secretary of the Unified Shariah Board of Al Baraka Banking Group, and Shariah board members of major financial institutions. The topics covered included Islamic finance, investments, takaful products and operations.

In the last two months, Turkey has seen the launch of an Islamic bank, Ziraat Participation Bank. Two other government-owned banks are expected to enter the Islamic banking in the near future, and takaful is likewise expected to grow. Turkey currently has three stand-alone companies offering takaful (known as participation insurance in the country) and two conventional companies with window operations.

The seminar was organised by SHAW international and BRICS Brokerage Lebanon.

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